Even the Catch-22s Come With Catch-22s: Potential Harms & Drawbacks of Rent Reporting
Rent reporting carries huge risks for renters, especially the most vulnerable families who struggle with housing costs.
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Rent reporting carries huge risks for renters, especially the most vulnerable families who struggle with housing costs.
Credit reports and scores, tenant and employment screening reports, and other background checks all impact fundamental necessities in a consumer’s life: the ability to rent an apartment or buy a home, obtain insurance, find a job, open or keep a bank account, and obtain fairly priced credit. Yet each one of these categories of “consumer…
Read More about 2024 Credit & Consumer Reporting Priorities to Promote Economic Stability
The President’s emergency order shows that irresponsible data brokers aren’t just a threat to consumers, they’re a threat to national security.
NCLC submitted comments in response to the Treasury Department’s request for information on developing a national strategy for financial inclusion. Our comments begin by addressing some of the risks associated with expanding the use of alternative data in credit reporting and argue that “alternative” data is best left outside of the main credit reporting file.…
Read More about Comments on Treasury Department's Request for Information on Financial Inclusion
These are NCLC comments to the CFPB’s Proposed Rule Implementing Section 1033 of the Dodd-Frank Act, Personal Financial Data Rights. In general, we support the proposed regulation and believe it is a strong, protective rule that will ensure that consumers can share data from their deposit, prepaid, and credit card accounts without such access being…
Read More about Comments to the CFPB's Proposed Section 1033 Rule, Personal Financial Data Rights
NCLC signed onto comments written by the Center for Law and Social Policy and Prosperity Now asking the CFPB to include electronic transfer benefit (EBT) accounts within the types of accounts covered by their proposed rule under Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which deals with personal financial data…