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The coronavirus emergency has placed many consumers under financial pressure, with many challenged to make loan or rent payments. Financial institutions also face their own challenges in maintaining operations and ensuring continued compliance with legal requirements. The credit reporting environment has been particularly affected by these issues. During and after the coronavirus emergency, consumers and financial institutions have a strong interest in ensuring that credit reports and scores remain accurate and useful to lenders, insurers, landlords and employers. In this Briefing, attorneys will present both industry and consumer perspectives on these issues.
Topics will include:
- New credit reporting requirements under the Coronavirus Aid, Relief, and Economic Security Act
- Supervisory and enforcement relief for data furnishers and consumer reporting agencies announced by the Consumer Financial Protection Bureau in response to the coronavirus emergency
- Congressional proposals for additional consumer protection measures during the coronavirus emergency
- Trends in credit reporting litigation likely to occur after the coronavirus emergency has passed
Program Level: Update
Intended Audience: In-house counsel, outside attorneys, financial advisors and other professionals in the financial industry
Advanced Preparation: None
Stephen J. Newman, Partner, Stroock & Stroock & Lavan LLP
Leonard A. Bennett, Founding Partner, Consumer Litigation Associates, P.C.