Jump to Content
ABA: The American Bankers Association
Compliance News

CFPB Publishes FAQs on Consumer Reporting Obligations During Pandemic

The Consumer Financial Protection Bureau published a set of frequently asked questions regarding a previous statement about financial institutions’ reporting obligations under the Fair Credit Reporting Act during the coronavirus pandemic. The CARES Act amended the FCRA to provide that credit furnishers that agree to defer payments, forbear on any delinquent credit or account or provide any other relief to consumers during the national emergency must report that account as current to consumer reporting agencies.