ALEXANDRIA, Va. (Nov. 15, 2022) – NCUA Chairman Todd M. Harper, along with other financial regulatory agency principals, testified today at a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued two reports on the tenant background check industry. The reports describe how errors in these background checks contribute to higher costs and barriers to quality rental housing. Too often, these background checks – which purport to contain valuable tenant background information – are filled with largely unvalidated information of uncertain accuracy or predictive value. While renters bear the costs of errors and false information in these reports, they have few avenues to make tenant screening companies fix their sloppy procedures. The CFPB’s analysis of more than 24,000 complaints highlighted the renter challenges associated with the industry’s failures to remove wrong, old, or misleading information and to provide adequate investigations of disputed information.
OAKLAND – California Attorney General Rob Bonta, as part of a bipartisan coalition, filed a brief yesterday in support of the Consumer Financial Protection Bureau’s (CFPB) interpretation that student loan trusts are “covered persons” under the Consumer Financial Protection Act. The brief supports the CFPB in its case against the National Collegiate Student Loan Trusts (Trusts) for engaging in illegal debt collection of student loans.
This report is based on analysis of data from industry research, legal cases, academic research, the CFPB’s market monitoring, and other third-party sources. In our research, we focused on publicly available information from a sample of 17 tenant screening companies that offer services to landlords across the country.1 These companies were selected based on their perceived prevalence in sources such as: public-facing websites, analyses by industry observers, academic research, consumer complaints submitted to the CFPB, and recent lawsuits.
The Department of Defense (DOD) and our nation’s defense industrial base (DIB)—which includes entities outside the federal government that provide goods or services critical to meeting U.S. military requirements—are dependent on information systems to carry out their operations. These systems continue to be the target of cyber attacks, as DOD has experienced over 12,000 cyber incidents since 2015 (see figure).To combat these incidents, DOD has established two processes for managing cyber incidents—one for all incidents and one for critical incidents. However, DOD has not fully implemented either of these processes.
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