CFPB FCRA Rulemaking Starts with SBREFA Process

CFPB FCRA Rulemaking Starts with SBREFA Process

On September 15, 2023, the CFPB began the FCRA rulemaking process under the Small Business Regulatory Enforcement Fairness Act (SBREFA). The Bureau issued three documents: The Consumer Reporting Rule SBREFA Outline. This document provides an overview of the proposals...
CFPB FCRA Rulemaking Starts with SBREFA Process

CFPB SBREFA Process

The CFPB has on its website a fact sheet on the SBREFA process. The Small Business Regulatory Enforcement Fairness Act (SBREFA) of 1996 provided new avenues for small businesses to participate in the federal regulatory arena. SBREFA created Small Business Advocacy...
CFPB FCRA Rulemaking Starts with SBREFA Process

NCLC Petitions CFPB for Rulemaking

In March 2023, NCLC filed a petition with the CFPB to request rulemaking on three specific areas. The CFPB should establish strict requirements to regulate the furnishing of information regarding a debt in collections by third-party debt collectors and debt buyers....
NY Hearing on Credit Reporting

NY Hearing on Credit Reporting

Two new York Assembly committees held a hearing on December 6 “[t]o examine the accuracy and effectiveness of consumer credit reports and opportunities to improve and modernize the credit reporting system.” The hearing was called by Nily Rozic, the Chair of the...

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