The Consumer Financial Protection Bureau is giving banks and other lenders a break on reporting mortgage and credit card data as they respond to the new coronavirus pandemic.
The CFPB’s move to suspend some key data reporting is intended to help lenders focus on helping consumers who are seeking help modifying mortgages and other existing loans, CFPB Director Kathleen Kraninger said in a statement.
“Our actions today are temporary and targeted to support consumers by allowing financial companies to focus their resources on assisting consumers,” Kraninger said in a statement.
The CFPB said that banks, mortgage companies, and other lenders ...
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