Explore the evolving landscape of mortgage origination, influenced by shifting interest rates, housing market dynamics, and regulatory changes. Discover strategies for lenders to adapt and thrive in this dynamic environment.
Estimated reading time: 0 minutes, 28 seconds
The Consumer Financial Protection Bureau has issued an interpretive ruling that says states can generally enact their own laws that are stricter than the Fair Credit Reporting Act. So reports PYMNTS.com.
“The legal interpretation issued today makes clear that federal law does not automatically hit delete on state data protections,” says Rohit Chopra, CFPB Director.
Since 1970, the FCRA has defined permissible use of credit reports, set up guidelines for what they can include and established a process for people to dispute their credit data.
