With the Fair Credit Reporting Act (FCRA) looming in the world of legal regulations, the Consumer Financial Protection Bureau (CFPB) has been planning on proposing new rules under it. This was discussed in a three-part special series –
CFPB’s Rulemaking Under FCRA Part 2
in the FCRA Focus Podcast. The second episode is seen as a crossover with the Consumer Finance Podcast.
In the podcast episode, Troutman Pepper Partners – Chris Willis, Dave Gettings, Kim Phan, and Ron Raether – emphasized on the regulation of the credit header data. The discussions were majorly around its potential impact on the FCRA, consumer reporting agencies, and also the users and data brokers. All of these discussions have profound implications for legal professionals, particularly those working with consumer financial data.
Given the significant potential impact of the proposed rule changes on legal and corporate arenas, the upcoming third and final episode of this series is eagerly awaited. This concluding episode will delve more specifically into unexplored areas of the topic.