ARTICLE · 17 MARCH 2025

2024 Year In Review: Credit Reporting

Goodwin Procter LLP

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Welcome to the "Credit Reporting" chapter of our annual report, Consumer Financial Services: 2024 Year in Review.

United StatesConsumer Protection

Christina L. Hennecken

Matthew L. Riffee

Sabrina Rose-Smith

Courtney L. Hayden

Viona J. Harris

Chenxi (CC) Jiao

+2 more

Welcome to the "Credit Reporting" chapter of our annual report, Consumer Financial Services: 2024 Year in Review.

Looking Ahead to 2025

In 2024, Goodwin tracked four public enforcement actions related to credit reporting or credit repair services, consistent with the four actions tracked in 2023. Between 2017 and 2024, there were an average of four actions related to credit reporting per year, but year-over-year enforcement continues to vary. Looking ahead to 2025, the Consumer Financial Protection Bureau (CFPB) has persisted in its previously announced efforts to promulgate notice-and-comment rulemaking to remove medical bills from consumers' credit reports, although whether it will continue taking actions in accordance with that goal under the new Trump administration is uncertain. Additionally, this year, the CFPB focused primarily on credit reporting accuracy; but going into 2025, with a new administration and new priorities, that may no longer be a focus.

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