Sat.Mar 25, 2017 - Fri.Mar 31, 2017

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CFPB's Monthly Report Focuses on Credit Card Products

Consumer Financial Services Law

The CFPB issued its monthly report on consumer complaints this week. The report is a high level snapshot of trends in consumer complaints. The Report provides a summary of the volume of complaints by product category, by company and by state. Additionally, it highlights a product type. The product “spotlight” rotates monthly. This month’s report highlights credit card account complaints.

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Credit Reporting Remains a High Priority for the CFPB

Consumer Financial Services Law

The CFPB confirmed credit reporting remains a high priority for the agency by issuing a special Supervisory Highlights devoted to credit reporting earlier this month. The report was generally complimentary of the strides that credit reporting agencies have made but indicated significant concerns with furnishers’ compliance with the FCRA and its accompanying regulation, Regulation V.