Credit reporting inaccuracies are having a major impact on low-income consumers who are trying to find housing, according to participants at a recent CFPB Consumer Advisory Board Meeting.
Federal and state regulators looking to implement new data privacy standards should include exemptions for firms subject to Gramm-Leach-Bliley Act requirements, according to the Mortgage Bankers Association and other trade groups.
Speaking at the MBA secondary conference, CFPB Director Rohit Chopra pushed back against the argument that credit reporting fees are distinct from junk fees. He said the term junk fee extends to fees that lack competition in the market.