A recent report from U.S. PIRG Education Fund, a consumer advocacy group, found that complaints filed with the Consumer Financial Protection Bureau about credit-report companies nearly doubled between 2021 and 2022. In fact, complaints about problems with credit bureaus totaled 69% of all consumer grievances in the CFPB’s consumer complaint database, U.S. PIRG found.
The Consumer Data Industry Association, a trade group that represents the credit bureaus, attributes the rise in complaints to the rise in credit-repair companies that falsely claim they can remove negative but accurate information from credit reports.
