Consumer bureau reps to testify in hearing on fair credit reporting

Representatives from two divisions of the federal consumer protection bureau are scheduled to testify July 12 during a Senate Banking Committee hearing, “An Overview of the Credit Bureaus and the Fair Credit Reporting Act.”

Listed as witnesses are Peggy Twohig, assistant director of supervision policy in the division of supervision, enforcement and fair lending for the Bureau of Consumer Protection (BCFP, also known as CFPB); and Maneesha Mithal, associate director of privacy and identity protection division, BCFP, Federal Trade Commission. The July 12 hearing is set to begin at 10 a.m. ET and will be webcast live.

No other details were provided in the hearing notice at press time, but the bureau’s latest regulatory agenda does include consumer reporting on a list of “long-term actions,” though no specific time frames for action are noted.

The abstract for this topic notes ongoing monitoring of consumer reporting matters and says the bureau will evaluate possible policy responses to issues identified, including potential additional rules or amendments to existing rules governing consumer reporting. “Potential topics for consideration might include the accuracy of credit reports, including the processes for resolving consumer disputes, identity theft, or other issues,” it states.

July 12 Hearing Notice

Spring 2018 Rulemaking Agenda (Blog post)