The companies collecting detailed information about you and selling it to corporations to determine your ability to obtain a loan, buy a house, or get a job are now urging the Trump administration to move forward with a proposal to hide consumer complaints about potential misdeeds that can wreck families’ finances.
These same credit reporting companies, which spent more than $1 million lobbying the government on consumer protection laws in 2025, have been sued for deceiving consumers and publishing false information impacting people’s credit scores.
On January 30, the Consumer Financial Protection Bureau (CFPB) began accepting public comments on whether the agency’s complaint intake system, which allows consumers to file public complaints against credit reporting companies, “is necessary for the proper performance of the functions” of the agency. The request for comment also seeks ideas on how to “minimize the burden of the collection of information” on companies flagged.
A potential rule change could make it harder for consumers to file complaints and publicize mistakes made by these credit reporting companies, which can “devastat[e]” families with higher interest rates and loan denials, according to a recent press release from the National Consumer Law Center, a nonprofit law group.
Three days before the announcement, the Consumer Data Industry Association — the lobbying group representing the “Big Three” credit reporting firms, Equifax, Experian, and TransUnion — noted in a letter to the CFPB that it should “cease publishing data related to individual consumer complaints” and that the bureau’s consumer complaint database is akin to a “Yelp for Financial Services.”
These three companies control the credit data of more than 200 million Americans.
Experian was sued by the Consumer Financial Protection Bureau in the final days of the Biden administration for allegedly including inaccurate information in its consumer credit…
Auteur: Freddy Brewster
