Consumer Complaints: Credit Reporting

Cogburn Law
Madeleine Jones
September 10, 2013

The Consumer Financial Protection Bureau (“CFPB”) was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.  The CFPB is the first federal agency focusing solely on consumer financial protection.  In its quest to protect consumers, the CFPB receives and investigates “consumer complaints.”   While the CFPB accepts reports from a number of various financial industries, this article will only look at one industry: credit reporting.

The CFPB began accepting consumer complaints about credit reporting on October 22, 2012.  Since that time, the CFPB has handled approximately 14,200 credit reporting complaints.   Of those complaints, approximately 72% of them have been about incorrect information appearing on consumers’ credit reports.  Consumers have the right to credit reports that are completely accurate and up to date.  The other significant portion of complaints received by the CFPB have been about credit reporting agencies investigation of inaccurate information, or lack thereof.  If you find inaccurate information on your credit report, you have the right to dispute that information and have it removed.  As the information relates to Nevada, a review of the CFPB’s online collection of Complaints, only 121, or less than 1%, of the Complaints were from Nevadans.  It is important for consumers to know everyone is entitled to a free credit report from each of the three major credit reporting agencies (Trans Union, Equifax and Experian) once a year.  You can obtain this free credit report from

As an aside, the CFPB began accepting consumer complaints about debt collectors on July 10, 2013. For more information about your rights under the Fair Debt Collection Practices Act please visit our website at:

If you have inaccurate information on your credit report or are being harassed by a debt collector, please contact our office or visit our website ( for additional information on how to obtain our assistance for no money out of your pocket.