CFPB Takes Action Against Debt Collector for Failing to Investigate Reports of Identity Theft and Misrepresenting Consumers’ Debts

August 19, 2021

The CFPB filed a proposed settlement to resolve a lawsuit against a debt collection enterprise, who allegedly violated the Consumer Financial Protection Act of 2010, the Fair Credit Reporting Act (FCRA), and Regulation V (the Furnisher Rule) by failing to establish or implement reasonable written policies and procedures regarding the accuracy and integrity of the information it furnished to credit reporting agencies and failed to conduct reasonable investigations of indirect consumer disputes, resulting in inaccurate information remaining on consumers’ credit reports.

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