Key players include the CFPB, credit reporting agencies, data furnishers, and consumers; Goodwin anticipates no major CFPB actions in 2026 beyond data laws and is monitoring challenges to CFPB's view that the Fair Credit Reporting Act (FCRA) preempts state laws banning medical debt on reports.[1][14] This followed a broader 2025 regulatory shift under the new administration, with federal enforcement dropping sharply across consumer finance (51 actions vs. 83 in 2024), including CFPB rescinding consent orders and pausing supervision.[2][10]
The surge stemmed from heightened consumer issues post-2023, amplified by 86% of CFPB complaints from Jan 2024-Jun 2025 focusing on credit reporting.[1][14] Timeline: Complaints peaked Oct 2025; CFPB's Dec 2025 annual report highlighted trends; Goodwin's March 31, 2026 analysis looks ahead.[1][14] Newsworthy now as it signals ongoing CFPB retrenchment amid rising complaints, potential state-federal clashes on medical debt, and 2026 credit changes like HPPA (effective Mar 4, restricting report furnishing) and BNPL/medical debt reporting shifts.[1][3]