In a letter sent to the Consumer Financial Protection Bureau by a coalition of 21 consumer, faith, and advocacy groups, Director Kathy Kraninger is urged to revoke the permission that the Bureau granted the credit reporting industry to violate the 30-day deadline imposed by the Fair Credit Reporting Act (FCRA) for investigating disputes. Citing a dramatic increase in complaints to the CFPB from consumers alleging delays in resolving their disputes, the coalition recommends limiting the extra time provided to the credit industry to 15 or 30 days.
