CFPB reports on 2020 consumer reporting, servicing violations

The Consumer Financial Protection Bureau issued a report highlighting legal violations identified by bureau examinations in 2020.

Report: The CFPB said particularly concerning findings from the report include:

• Consumer reporting companies accepted consumer data from unreliable furnishers.
• People in minority neighborhoods were discouraged from applying for credit.
• Violations of mortgage servicing rules related to foreclosures.
• Student loan servicers misled consumers about loan forgiveness.