State AGs tell credit reporting agencies that they will enforce CARES Act safeguards

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New York Attorney General Letitia James was one of 22 attorneys general who warned the nation’s three consumer reporting agencies on Tuesday that they plan to enforce safeguards set in place under the CARES Act. The letter stated that the attorneys general plan to ensure consumers’ credit is protected and that credit reports are “fairly and accurately” reported as Americans navigate the economic fallout from the COVID-19 public health crisis.

The letter, sent to the heads of Experian, TransUnion and Equifax said that, while the Consumer Financial Protection Bureau indicated that it will not enforce the Fair Credit Reporting Act’s 30- or 45-day deadline to investigate consumer disputes requirements during the COVID-19 crisis, “the undersigned state Attorneys General are committed to protecting consumers in our states and will continue to enforce all federal and state requirements during this crisis.”

The letter comes two weeks after James sent a letter to the CFPB, urging the agency to rescind its plans not to enforce certain provisions of the CARES Act and the FCRA.

Tuesday’s letter can be accessed on the New York state attorney general’s website.


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