| Entities | Consumer Reports (4) |
| Topics and Issues | Accuracy (39) CFPB Consumer Complaint Database Portal (20) Credit repair (34) Data matching (3) Disputes (45) SSN matching (4) |
In June 2021, CDIA sent a letter to Consumer Reports responding to its unempirical survey alleging inaccuracies in credit reports. CDIA made seven key points. First, credit reports are highly accurate. Second, the Consumers Reports survey is not grounded in empirical research. Third, the credit reporting dispute process is sound, efficient, and beneficial for consumers. Fourth, the elevated credit reporting complaint levels reported to the CFPB must be understood in context, and they are primarily driven by credit repair schemes. Fifth, we encourage Consumer Reports and its consumer group partners to join CDIA to curb the activities of deceptive credit repair, which offers little or no consumer benefit and takes time and resources away from helping consumers with real problems. Sixth, how consumers access their credit reports online strikes a careful balance between ease of access and security. Seventh, the process of identity matching strikes a careful balance between providing access to authenticated consumers and denying access to unauthorized users.