On January 30, the Consumer Financial Protection Bureau (CFPB or Bureau) released its updated list of consumer reporting companies for 2025. The list includes nationwide consumer reporting companies as well as several other companies that focus on specific market areas, consumer segments, and types of users. According to the CFPB, consumers can use the list to know about the kinds of personal financial information that is collected for credit and other consumer reports, request their consumer reporting data, dispute inaccuracies, and block access to their credit reporting data through security freezes.
Highlights from the 2025 Report
The Importance of Security Freezes
According to the Bureau, a security freeze is a crucial tool that prevents third parties from accessing consumer reports without consent. The CFPB characterized such measures as particularly effective in stopping scammers from opening new credit accounts. Given the rising instances of fraud — over $10 billion reported lost in 2023 — the CFPB noted that a security freeze can be a critical step in safeguarding a consumer’s financial identity.
The CFPB included additional information in the report this year that differs from prior years.
- Casinos and Sports Betting: This year’s list highlights consumer reporting companies that share data with casinos and sports betting apps, which rely on digital access to consumer cash information. The CFPB’s gaming category was expanded to include online sports betting in this report.
- Unexpected Data in Reports: Employment screening reports may include social media data, while auto insurers might use driving behavior data collected from mobile phones or vehicles to determine insurance rates. Other types of data can include property insurance claims, drug and alcohol testing results, and verification of non-profit and volunteer activities.
- Electronic Fund Transfers (EFTS): The Bureau mentioned that consumer reporting companies can provide reports to banks, credit unions, and merchants that accept EFTs.
- Access to Free Credit Reports: Consumers are entitled to a free credit report from the nationwide companies at least once every twelve months. Since the COVID-19 pandemic, these companies have been offering free weekly reports. Additionally, if an adverse action is taken against a consumer, such as being denied credit or housing, they can request a free copy of their report.
- Impact of Hard Inquiries: Applying for credit or leasing can result in a “hard inquiry” on a consumer’s credit report, which can lower their credit score. This is particularly relevant for tenants submitting multiple lease applications, as each application can trigger a hard inquiry. The Bureau distinguished between hard inquiries that stem from creditors requesting reports on consumers applying for credit and soft inquiries that stem from lender reviews of existing accounts, prescreening inquiries by prospective lenders, and consumer requests for reports. The report emphasized that soft inquiries are not included in reports shared with third parties, and do not impact credit scores for categories such as employment screening and utilities.
- Bank Account History: A consumer’s deposit account history, while not part of their credit history, can still affect their credit eligibility and pricing. Negative information, such as an unpaid negative balance or a bank closing your account, can be used by lenders to assess creditworthiness. The Bureau also advised that if a consumer is declined for a new checking or deposit account, the bank must provide an “adverse action” notice, including the name and contact information of the screening company from which the bank got the report.
- Alternative Data: The CFPB expanded its utilities category to include telecommunications and added new explanatory text, “Telecommunications, cable and utility companies often check your credit and other reports when you apply for their services. Applying for their services will not impact your credit scores.”