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FCRA Permissible Purpose not impacted by COVID-19

Has the CFPB or the other regulatory agencies taken any action as a result of the COVID-19 pandemic to temporarily suspend or alleviate the FCRA regulatory burden that would affect how financial institutions obtain consumer reports from consumer reporting agencies?

No. The Bureau issues a statement addressing consumer reporting under the CARES Act (the Coronavirus Aid, Relief, and Economic Security Act), but it did not change or ease the restrictions on obtaining consumer reports.


Learn more about Nancy Derr-Castiglione’s webinar Understanding Fair Credit Reporting Act’s Permissible Purpose

First published on 11/01/2020

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