This story appeared in Bank Digest.
Consumer Financial Protection Bureau Director Richard Cordray spoke at the Operation HOPE Global Forums Annual Meeting in Atlanta, Ga., on April 11, 2017. Cordray devoted most of his prepared remarks to a discussion of the credit reporting market and the bureau's supervision of credit reporting companies and furnishers of financial information.
According to Cordray, the bureau found that in the past, "industry practices produced an unacceptable number of errors" in credit reports and that consumers have found it difficult to get errors on their reports corrected. He discussed how the CFPB was working to correct problems such as these, as well as to empower and educate consumers.