The guidance addresses companies’ responsibilities for credit reporting and furnishing information about consumers impacted by the COVID-19 pandemic.
The Consumer Financial Protection Bureau has issued guidance on consumer reporting during the COVID-19 pandemic. The frequently asked questions (FAQs) address companies’ responsibilities under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Fair Credit Reporting Act when they furnish information to consumer reporting agencies about consumers impacted by the crisis, according to the CFPB.
ACA International also provided a summary of the CARES Act and additional resources on its federal advocacy website.
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