WASHINGTON–Attorneys General from 22 states have sent a joint letter to the three primary credit reporting agencies seeking to remind the companies of their obligations during the COVID-19 pandemic to comply with the Fair Credit Reporting Act.
The letter, sent to Experian, Equifax and Transunion, states that as millions of Americans lose wages and jobs that they as attorneys general will remain committed to protecting consumers and will enforce all state federal laws during the pandemic.
The letter further reminds the Consumer Financial Protection Bureau has announced it will not be enforcing various FCRA requirements during the pandemic, and that the recently enacted CARES Act also includes numerous consumer relief provisions, including amending the FCRA to allows consumers to obtain CARES Act relief without incurring permanent harm to their credit.
The AGs said in the letter the CARES Act specifically requires any company providing information to the credit reporting agencies to report a credit obligation as “current” if the obligation was current prior to the grant of a CARES Act accommodation.