CFPB Credit Report Field Hearing Set in Detroit
CFPB Director Richard Cordray and a panel of experts will present the Monday event at 11 a.m. in the Detroit Institute of Arts at 5200 Woodward Ave.
Credit reporting agencies, which have not been subject to previous federal regulation, are included among non-banks the CFPB will supervise as a result of the Dodd-Frank Act.
According to a proposed rule issued by CFPB in February, the consumer reporting market includes the largest consumer reporting agencies selling comprehensive consumer reports, consumer report resellers, and specialty consumer reporting agencies.
The bureau has set a July 21 target date for a final rule that will define which reporting agencies qualify as “larger participants” and how they will be regulated.
The hearing will be streamed live over the Internet. Those who want to attend the field hearing in person must RSVP at firstname.lastname@example.org.