WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) launched a rulemaking to address the harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse. The agency is issuing an advance notice of proposed rulemaking to gather additional public input on potential amendments to the regulation that implements the Fair Credit Reporting Act (FCRA). After gathering public comment, the CFPB intends to issue a proposed rule.
“People trapped by domestic abuse must often sign documents under the threat of violence, ruining their financial lives and making it even more difficult to escape,” said CFPB Director Rohit Chopra. “Expanding…