The Consumer Financial Protection Bureau (CFPB) has just issued its latest report to Congress on credit scores sold to consumers versus credit scores sold to creditors.

The 42-page report, which you can find here, provides an analysis of different scoring models, comparing credit scores sold to creditors and those sold to consumers by the national credit reporting agencies, including Experian.

Of particular interest, and of reassurance to consumers, are some high-level conclusions from the report:

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“Today, the CFPB announced a final rule addressing its role in supervising certain credit reporting agencies, including Experian and others that are large market participants in the industry.

During a field hearing in Detroit, CFPB Director Richard Cordray’s spoke about a new regulatory focus on the accuracy of the information received by the credit reporting companies, the role they play in assembling and maintaining that information, and the process available to consumers for correcting errors. We look forward to working with CFPB on these important priorities.

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The Consumer Financial Protection Bureau is coming up on its one year anniversary, and the questions still persist around what it means for credit reporting agencies and other providers of data to the financial services industry. One major focal point has been the agency’s “new” authority to supervise and examine large market participants, like Experian.

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The Consumer Financial Protection Bureau (CFPB) has been busy hiring staff and building a regulatory agency from the ground up since July 21, 2011, when it assumed full rulemaking, enforcement and supervisory authority over 18 of the nation’s consumer protection laws that guide financial products and services, including the Fair Credit Reporting Act, the Equal Credit Opportunity Act, The Truth in Lending Act and the Fair Debt Collection Practices Act.

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