FOR IMMEDIATE RELEASE
May 14, 2025

WASHINGTON, D.C. – The Consumer Data Industry Association (CDIA) convened Connect 2025 last week in Crystal City. Attendees and speakers considered the key issues facing the Consumer Reporting Industry. According to CDIA President and CEO Dan Smith, the new administration, federal deregulation, the future of Consumer Finance Protection Bureau (CFPB) and Federal Trade Commission (FTC), medical debt, and mortgage triggers are all priorities.

“It’s not just one thing that’s the most important. In many ways they all are, because they serve to chip away at the authenticity and trust the industry has in the consumer credit reporting process. Each one is like the tip of the iceberg,” said Smith.

The future of the CFPB was a much-discussed topic.  As the conference concluded on Friday May 9, 2025, the CFPB issued a Notice withdrawing 69 policy statements, interpretive rules, advisory opinions, circulars and other informal guidance documents, effective May 12, 2025. The Bureau’s Interpretive Rule on Preemption was one of the 69 guidance documents withdrawn. “CDIA will continue to seek a formal statement that the Interpretive Rule’s withdrawal is permanent on the basis it contradicted the clear text of the FCRA, was bad policy for a national credit system, and was issued without authority,” Smith clarified.

Overall, conference registrants from across the country attended more than 30 sessions over the span of three days, including keynotes from Congressman Andy Barr of Kentucky, Chris Mufarrige, Director of the FTC’s Consumer Protection Bureau, and Silvio Tavares President and CEO of VantageScore.

Congressman Barr, a senior member of the House Financial Services Committee, who has introduced the TAB Act to reform the CFPB, explained that the type of debt appearing on consumer credit reports should not be politicized. “If you politicize one type of debt you erode confidence in the credit system, and that becomes a disaster for credit availability for consumers.”

As Silvio Tavares, CEO of Vantage Score, put it, “We are living in the most measured time in history, and we have more data than ever.” Tavares identified three mega trends in the industry, including increased use of alternative data for credit scoring; continued deregulation; and the use of AI models in the credit industry. Tavares said that he expects lenders to continue to use both AI and traditional information. “We don’t believe that credit scores powered solely by alternative data work. They lack the predictive power of the credit file data,” he said.

See a complete list of conference speakers, sessions, and photography here and mark your calendar for CDIA Connect 2026 – May 6-9 at the Grand Hyatt Washington, DC.

About CDIA: The Consumer Data Industry Association (CDIA) is the voice of the consumer reporting industry, representing consumer reporting agencies, including the nationwide credit bureaus, regional and specialized credit bureaus, background check and residential screening companies, and others. Founded in 1906, CDIA promotes the responsible use of consumer data to help consumers achieve their financial goals and to help businesses, governments, and volunteer organizations avoid fraud.

Contact:
Brittany Bailey
Bbailey@cdiaonline.org

Consumer Data Industry Association
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