Sens. Seek Review Of Consumer Credit Reporting

Law360, New York (February 15, 2013, 7:04 PM EST) -- Sens. Elizabeth Warren, D-Ma., and Mark Warner, D-Va., on Friday urged federal regulators to review the high mistake rates in consumer credit reports and asked them to compile a report to determine whether new laws were necessary to regulate the firms that compile them.

In a letter to Consumer Financial Protection Bureau Director Richard Cordray and outgoing Federal Trade Commission Chairman Jon Leibowitz, the two senators said that consumer credit reporting firms have been slow in responding to reports of mistakes and have been insufficiently open...
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