The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) will host a workshop on December 10, 2019 to discuss issues related to the accuracy of credit and background screening reports.

Consumer advocates, industry representatives, and regulators will be in attendance. A list of discussion topics has been posted online and public comments will be accepted until January 10, 2020. The workshop is free and open to the public and will take place at the FTC’s Constitution Center conference facility in Washington, D.C. with a live webcast streaming on the Commission’s event page. Click here for more details.

The FTC and CFPB are inviting interested individuals to submit comments recommending topics that should be addressed or specific information on the following potential topics for discussion:

  • What are the lessons from the CFPB’s supervisory reviews of CRAs and furnishers on accuracy and dispute obligations?
  • What are the lessons from CFPB and FTC enforcement cases on furnisher and CRA accuracy obligations?
  • How do furnishing practices differ based on the types of furnishers and the information they furnish to CRAs, and how does that impact accuracy?
  • What has been the effect of the removal of most civil judgments and tax liens from credit reports and recent changes in the reporting of medical debt?
  • How do background screening CRAs address accuracy in light of the limited personal identifying information included in public records?
  • What opportunities or challenges does inclusion of non-traditional data in credit reports, credit scoring models, or background screening reports present for accuracy?
  • Can new technologies and data management practices be used to improve accuracy?
  • How do consumers learn about inaccuracies on their consumer reports and navigate the current dispute process? What are the experiences of victims of identity theft in the dispute process?
  • How have the changes to the dispute process contained in the National Consumer Assistance Plan, which evolved out of the 2015 multi-state settlement, impacted the consumer experience?
  • Once consumers get erroneous information removed from their credit files through the dispute process, do they still have difficulties getting loans or other credit?
  • What government measures (including changes in the law) and private sector measures could improve accuracy? What are the costs and benefits of these possible measures?

Click here to read more about the workshop.