The Federal Trade Commission and the Consumer Financial Protection Bureau (CFPB) will host a public workshop on December 10, 2019 to discuss issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports.
Since the FTC released its 2012 study on accuracy in credit reporting, there have been several changes in the landscape that impact the accuracy of consumer reports. In 2012, the CFPB began conducting supervisory reviews over large credit reporting agencies (CRAs), as well as various providers of consumer financial products or services that furnish information about consumers to CRAs. In addition, in 2015, following state investigations regarding various credit reporting issues, the nationwide CRAs agreed to a multi-state settlement that requires stricter standards for matching records, removal of certain public record information, and restrictions on medical debt reporting. Also, new developments, such as the use of machine learning and alternative data in making eligibility determinations, present both opportunities and challenges for the consumer reporting industry.
The December workshop seeks to bring together stakeholders—including industry representatives, consumer advocates, and regulators—for a wide-ranging public discussion on the many issues impacting the accuracy of consumer reports.
Accuracy in Consumer Reporting Workshop (morning session)
9:00 am Introductory Remarks
9:05 am Opening Remarks
9:15 am Presentation: Setting the Stage: A Decade of Developments in Consumer Reporting
9:30 am Panel 1: Furnisher Practices and Compliance with Accuracy Requirements
11:00 am Panel 2: Current Accuracy Topics for Traditional Credit Reporting
Accuracy in Consumer Reporting Workshop (afternoon session)
1:30 pm Remarks-Brian Johnson
1:40 pm Remarks-Andrew Stivers
1:50 pm Panel 3: Accuracy Considerations for Background Screening
3:15 pm Panel 4: Navigating the Dispute Process
4:30 pm Closing Remarks