CFPB Report Highlights Consumer Reports and Loan Service Problems

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Law360 (June 29, 2021, 10:21 p.m. EDT) – The Consumer Financial Protection Bureau said on Tuesday that its examiners uncovered a multitude of law violations among financial service providers last year, targeting certain issues related to the ‘Accuracy of credit report data, redlining, data entry practices and student loan service as “of particular concern.”

The CFPB presented the findings when it released its latest Surveillance Highlights report, which is part of a regular series that provides updates on key industry compliance issues that have arisen in recent agency review work.

In reviews of consumer information companies last year, for example, the CFPB said its reviewers found information from “unreliable” data providers was continuing …

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