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On April 1, 2020, the CFPB issued a Policy Statement that outlines the responsibility of credit reporting companies and furnishers during the COVID-19 pandemic.
During the COVID-19 pandemic, the U.K. Financial Conduct Authority (FCA) issued a statement in July 2020 that reversed a temporary suspension of credit reporting in support of reporting consumers in financial accomodations.
Global financial authorities also encourage full reporting, and not suppression. Early in the global pandemic, the World Bank, through its International Committee on Credit Reporting (ICCR), issued a policy statement.
On April 1, 2020, the CFPB issued a Policy Statement that outlines the responsibility of credit reporting companies and furnishers during the COVID-19 pandemic.