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Tag: financial regulation

Credit Reporting Firms Should Fix Practices Amid Consumer Complaints U.S. Watchdog
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Credit Reporting Firms Should Fix Practices Amid Consumer Complaints U.S. Watchdog

(Reuters) - The U.S. Consumer Financial Protection Bureau (CFPB) on Tuesday recommended that Experian, Equifax and TransUnion change how they respond to consumers after logging almost half a million complaints in a year combined.Gripes about the U.S. credit reporting agencies have long topped the list of public complaints in the CFPB's database, which debuted in 2012 to boost transparency on consumer issues.The watchdog recommended that Experian, Equifax and TransUnion consider how to improve the accuracy of credit reports by giving consumers more control over their data, according to a CFPB report based on 488,000 complaints it received from October 2021 through September 2022.The regulator also said credit reporting firms should examine whether their automated processes make it harder...
Government Funding Bill to Bolster U.S. Antitrust Regulators
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Government Funding Bill to Bolster U.S. Antitrust Regulators

By David Shepardson and Diane BartzWASHINGTON (Reuters) - A $1.7 trillion government funding bill approved by the U.S. Senate Thursday will bolster U.S. regulators and make it easier for states to bring antitrust lawsuits.The Federal Trade Commission (FTC), which has a number of major technology investigations underway, will get $430 million in funding, $53.5 million over last year's levels "to bolster antitrust, privacy, and consumer protection work," according to a summary from the House Appropriations Committee.The U.S. Securities and Exchange Commission (SEC), which has been ramping up crypto-fraud investigations, is getting a 10% increase to $2.2 billion.The National Labor Relations Board is receiving a $25 million increase to $299 million after not receiving a funding lift in more...