CFPB and FTC Convene Workshop on Accuracy in Consumer Reporting

Last week, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) convened a free public workshop at the Constitution Center in Washington, D.C. examining “issues affecting the accuracy of traditional credit reports as well as employment and tenant background screening reports.”

In a press release announcing the panels for the workshop, the Bureau stated that the event “seeks to bring together stakeholders—including industry representatives, consumer advocates, and regulators—for a wide-ranging public discussion on the changes in the landscape over recent years that may affect the accuracy of consumer reports, such as changes in legal requirements and technological developments.”

The morning session featured opening remarks from FTC Commissioner Noah Joshua Phillips and a presentation by Peggy Twohig, Assistant Director of the Office of Supervision Policy at the CFPB, entitled “Setting the Stage: A Decade of Developments in Consumer Reporting.” It then heard from two panels: the first on Furnisher Practices and Compliance with Accuracy Requirements and the second on Current Accuracy Topics for Traditional Credit Reporting.

The afternoon session featured remarks from CFPB Deputy Director Brian Johnson and Andrew Stivers, Deputy Director of the Bureau of Economics at the Federal Trade Commission, followed by panels on Accuracy Considerations for Background Screening and another on Navigating the Dispute Process. Closing remarks were offered by Maneesha Mithal, Associate Director of the Division of Privacy and Identity Protection at the Federal Trade Commission.

A full webcast of the day’s events is available at https://ftc-workshop-accuracy-consumer-reporting.videoshowcase.net/.