Rep. Waters Urges CFPB 'Moratorium' On Equifax Scores

By Emilie Ruscoe (August 10, 2022, 9:11 PM EDT) — The chair of the House Financial Services Committee has asked the U.S. Consumer Financial Protection Bureau to temporarily prevent credit reporting company Equifax from sending credit scores to financial institutions following its acknowledgment that it sent out inaccurate credit scores during several weeks this spring.

In a Tuesday letter to CFPB Director Rohit Chopra, Rep. Maxine Waters, D-Calif., told the regulator that it should issue a “moratorium” on Equifax Inc. from sending out credit scores to lenders until the company “can demonstrate to your satisfaction” that it has systems and controls in place to ensure the accuracy of the data before its sent….

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