CFPB Finds Credit Report Disputes More Common in Majority Black, Hispanic Aeas

Consumer Financial Protection Bureau research found that consumers who live in majority Black and Hispanic neighborhoods, are younger, or have low credit scores have a greater likelihood of having disputes of inaccurate information appear on their credit reports.

"Error-ridden credit reports are far too prevalent and may be undermining an equitable recovery," CFPB Director Rohit Chopra said in a Nov. 2 statement tied to the release of the research, which is part of a series of reports focused on trends in the consumer financial marketplace.

The agency's research used data on auto and student loans as well as credit card accounts opened between January 2012 and December 2019.

For auto loans, consumers living in majority Black areas were over three times as likely to have credit report disputes than consumers residing in majority-white areas, according to the CFPB.

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