On January 5, the CFPB released its Annual Report of Credit and Consumer Reporting Complaints that analyzes complaint responses by the three major consumer reporting agencies (CRAs).  The CFPB’s analysis reveals that recent changes in complaint responses provided by the CRAs resulted in fewer meaningful responses and with fewer instances of relief to consumers.  As a result, the CFPB concludes that the CRAs failed to meet their obligations under Section 611 of the Fair Credit Reporting Act, which requires that CRAs review consumer allegations of incomplete or inaccurate information on consumer credit reports, including allegations made by an authorized third-party representative of the consumer.
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