Credit Reporting Issues Highlighted in the FTC’s and CFPB’s Workshop

On Tuesday, the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) held a workshop titled Accuracy in Consumer Reporting. The workshop consisted of four different panel discussions as well as individual remarks from several speakers. Below is a summary of the discussions relevant to the ARM industry.

Panel 1: Furnisher Practices and Compliance with Accuracy Requirements

The first panel discussed the different issues related to furnishing data to credit bureaus. The panel was moderated by two CFPB representatives: Susan Stocks (Office of Enforcement) and David Wake (Office of Supervision Policy). Panelists included:

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