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Credit-rating firms such as Moody's Investors Service Inc. and Standard & Poor's are under regulatory scrutiny, with the result that their share prices have dropped. The United States Securities and Exchange Commission has issued a Wells notice to Moody's Corp. the parent of Moody's Investors Service Inc.

Money market fund managers are vocal in their opposition to the Securities and Exchange Commission's planned amendment of Rule 2a-7, governing money fund operation. The amendment would require the boards of money market funds to determine the credit risk of investments.

The Securities and Exchange Commission is looking at credit-ratings firms and considering changes in regulations that will require different ratings systems for different types of securities and the disclosure of conflicts of interest.

The Consumer Financial Protection Bureau continues its push into the oversight of the consumer reporting industry. On December 13, the CFPB released a report on the big three credit reporting [...]

Congress enacted the USA PATRIOT Act in 2001 to provide the government with tools to intercept and obstruct terrorists, narcotics traffickers, and others. Pursuant to the act, the Treasury Department [...]

Address questions to Gerard P. Panaro, at Howe & Hutton, Ltd., 1901 Pennsylvania Avenue NW, Washington, DC 20006, tel. 202-861-1314 or e-mail at gpp@howehutton.com. Q I understand that under the [...]

Commissioner Harvey Goldschmid expects the Securities and Exchange Commission to propose new rules to encourage more competition among credit rating agencies. Goldschmid made the comment during a Thursday speech before [...]

Under the Fair Credit and Reporting Act (FCRA), if you are going to take any adverse action against an applicant or employee based on information received from a consumer reporting [...]

The board of directors of the American Financial Services Association (AFSA) adopted a standard for reporting delinquent accounts to credit reporting companies. The standard is applicable to revolving credit accounts and fixed payments on contractual accounts. One of its provisions requires that information about account reported as past due should not be changed after pressure by the customer or a promise to pay the owed amount. Compliance with the standard is helpful in reducing the increasing number of personal bankruptcies. Discussions with the Associated Credit Bureaus Inc insure the support of the credit reporting industry for the new standard, more complete credit reporting including medical information, and improved security measures.

Information brokers who buy large blocks of consumer credit data at a discount for resale beware: What you are doing could be violating the Fair Credit Reporting Act (FCRA). Consumer [...]

Election Stirs Up Key Industry Issues The outcome of last week's elections still leaves considerable doubt about the future of credit report legislation in the new session of Congress. But [...]

The House Banking Consumer Affairs Subcommittee is investigating whether private detectives retained by Ross Perot's presidential campaign violated the Fair Credit Reporting Act (FCRA) by obtaining the credit records of [...]