Seeking to put an end to, as Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra said, “background check and other consumer reporting companies creating flawed reputational dossiers that are then hidden from consumer view,” the CFPB recently issued two advisory opinions to consumer reporting agencies (CRAs) regarding the management and disclosure of consumer reports and personal data. The opinions clarify several important issues under the Fair Credit Reporting Act (FCRA).

The first advisory opinion concerns eliminating inaccurate or old information in consumer reports and background checks. The second opinion clarifies the process by which consumers can access their files/information and related data, including the sources and intermediaries of information in their consumer reports.

The CFPB’s First Advisory Opinion, Concerning Background Checks, Calls for CRAs to Adopt Procedures to Avoid Producing Reports With False or Misleading Information