8 Aug 2025
📊CFPB Proposes Revisions to Consumer Reporting Market Regulations
Defining Larger Participants of the Consumer Reporting Market
Summary
The Consumer Financial Protection Bureau (CFPB or Bureau) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the consumer reporting market established by the Bureau's Defining Larger Participants of the Consumer Reporting Market Final Rule published on July 20, 2012 (Consumer Reporting Larger Participant Rule).
Agencies
- Consumer Financial Protection Bureau
Business Impact
$$$ - High
The CFPB's proposal to redefine "larger participants" in the consumer reporting market has significant compliance implications for businesses, particularly those near the thresholds. Changes may affect oversight costs and operational burdens for firms exceeding the proposed thresholds, impacting decision-making and resource allocation.