House of Representatives Passes New Credit Reporting Legislation

Today, the House of Representatives passed the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency (CREDIT) Act (H.R. 3621), introduced by Rep. Ayanna Pressley. While the CREDIT Act—which still needs to go through the Senate—is primarily aimed at credit reporting agencies (CRAs) such as Equifax, Experian, and TransUnion, its impact will likely be felt among data furnishers.

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News and Opinion

from insideARM.com

» House of Representatives Passes New Credit Reporting Legislation

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» Idaho Seems Set to Review Legislative Proposal That Would Limit Medical Debt Collection

» InvestiNet, LLC Celebrates Seven Digits in Charitable Giving!

» MRS Supports Armed Forces Through S.A.F.E. Food Drive

» NLEX Introduces New Technology Platform for Post-Sale Account Management

» He's Back: Cordray Working with California on Mini-CFPB

» House Financial Services Committee to Hold Two Industry-Relevant Hearings in February

You Oughta Know, 30 January 2020

Welcome to You Oughta Know, a collection of links from around the internet that you should probably know about.

• FCC Inches Forward with Creation of Reassigned Numbers Database; Seeks Comments on Technical Requirements. "The FCC has issued a Public Notice seeking comments on the Technical Requirements for the Reassigned Numbers Database (RND) that it ordered to be created in 2018 in response to concerns that businesses had no way of ensuring that they were not sending text messages or making autodialed calls to numbers that were no longer assigned to their customers.  Specifically, in December 2018, the Commission adopted a Second Report and Order on Advanced Methods to Target and Eliminate Unlawful Robocalls laying the groundwork for the creation of a single, comprehensive RND that will contain reassigned number information from each carrier that obtains telephone numbers from the North American Numbering Plan.  Marketers will be able to query the database to determine if a number that they intend to call or text has recently been disconnected and, thus, may be assigned to a new user." (TCPA Defense Force)
  
• Businesses Improve Their Data Security, But Privacy — Not So Much. "The number of ways businesses track people has skyrocketed — and the increasing deployment of image recognition, machine learning, and data analytics has only accelerated the process. The result is a refocusing of attention on not just the security of the data which company's retain on people, but on whether privacy and technology can co-exist." (Dark Reading)
  
• Why It's Still So Hard to Fix Credit Report Errors. "Fixing errors in credit reports remains one of the biggest hassles consumers face. Yet while the problem has been well known for years, credit agencies have been slow to make the process easier and more accurate." (Consumer Reports)
  

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Women in Consumer & Commercial Finance Conference 2020

2 December 2020 at 06:00 a.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer & Commercial Finance – a conference and networking event for ALL women in consumer & commercial finance.

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