Fair Credit Reporting Act Update—2022

Fair Credit Reporting Act Update—2022

Spring 2023, The Business Lawyer

The Consumer Financial Protection Bureau (“CFPB”) has been increasingly active under the Fair Credit Reporting Act (“FCRA”),2 making rules, issuing advisory opinions, and taking enforcement action. CFPB Director Rohit Chopra has likened consumer reporting agencies to “surveillance companies” and has said that enforcement of the FCRA will be one of the CFPB’s highest priorities.