Warren, Duckworth, Kim, Blunt Rochester Press Credit Reporting Companies on Abandoning Consumers As Trump's CFPB Looks the Other Way

Warren, Duckworth, Kim, Blunt Rochester Press Credit Reporting Companies on Abandoning Consumers As Trump's CFPB Looks the Other Way

"It is hard to overstate the extent to which credit reports and credit scores produced by credit reporting companies permeate nearly every aspect of modern American life."

Letter to Experian | Letter to TransUnion | Letter to Equifax

Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, Tammy Duckworth (D-IL), Andy Kim (D-NJ), and Lisa Blunt Rochester (D-DE), raised concerns with major credit reporting agencies Experian and TransUnion about the drastic decrease in relief they provided last year to consumers who submitted complaints to the Consumer Financial Protection Bureau (CFPB) - at the same time the Trump Administration was sidelining the CFPB and making it harder for consumers to get help with credit reporting errors. The Senators also wrote to Equifax following reporting that it - unlike the other two credit reporting agencies - had consistently provided consumer relief in response to CFPB complaints and asked it to provide details on its processes to do so.

"Credit reports and credit scores determine whether a consumer can get a credit card, buy or refinance a home, purchase a car, get certain jobs, rent an apartment, or even get a checking account. It is hard to overstate the extent to which credit reports and credit scores produced by credit reporting companies permeate nearly every aspect of modern American life," wrote the Senators in their letters.

"(N)early every complaint submitted to the CFPB about Experian, which includes complaints from consumers seeking corrections to their credit reports, appears to have been closed without relief in 2025," wrote the Senators. Likewise, "TransUnion had provided relief at a steady rate for years, but after the Trump Administration took over the CFPB that rate plummeted; by October 2025, TransUnion had reduced its rate of consumer relief by approximately half … (Experian, TransUnion)'s drastic drop in responsiveness means that American consumers may be getting denied a mortgage or housing simply due to an error on their report that your company failed to correct, which would be an unacceptable failure in carrying out your responsibility to your customers."

The Senators also highlighted that the Trump CFPB is creating additional hurdles to consumers seeking relief for credit reporting errors, requiring consumers to click through multiple screens warning about the harms of submitting such complaints: "The warning screens note that consumers who submit complaints prematurely 'imped(e) the system from serving other consumers who have correctly followed the process' and may not have their complaint processed."

The Senators concluded: "ProPublica's findings are greatly concerning and indicate that (Experian, TransUnion) may not be fulfilling its duties to investigate and correct errors in its customers' credit reports. To help us better understand (Experian, TransUnion)'s practices for handling consumer complaints, please provide answers to the following questions no later than May 14, 2026."

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