Over 75% of consumer complaints submitted to the CFPB last year were related to Credit Bureau Reporting. With delinquencies on the rise and consumers struggling to obtain credit due to tighter credit standards, we expect to see an increase in consumers disputing historical delinquencies in an attempt to improve their credit score.
This paper, authored by Justin Metacarpa and Dave Wasik, offers a roadmap to improving Credit Bureau Reporting and Disputes processes, including an overview of some key challenges and where the major pain points may lie.