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In this Issue. The Office of the Comptroller of the Currency (OCC) issued guidance for banks regarding the applicability of legal lending limits to purchased loans...
On August 15, CFPB Director Rohit Chopra announced plans for new CFPB rules that would strictly limit the types of consumer data that can be sold by businesses and ensure that data brokers comply...
Definition of Credit Bureau Agencies Credit bureau agencies are specialised organisations that gather, maintain, and share credit information about individuals and businesses. They play a vital role in the financial ecosystem by giving lenders insights into a borrower’s credit history, outstanding debts, payment behaviour, and overall creditworthiness. These agencies thus…
On July 28, the U.S. Department of Labor, Office of Labor-Management Standards, issued its final revision of Form LM-10 and a Fact Sheet. The revised form will require employers who use...
The Name Accuracy in Credit Reporting Act would require credit reporting agencies to stop using consumers’ deadnames.