On November 3, 2021, the Consumer Financial Protection Bureau ("CFPB") issued an advisory opinion discussing name-only matching and its implications within the Fair Credit Reporting Act (FCRA). The full text of the advisory opinion can be accessed here.
"Name-only matching" refers to when a consumer reporting agency "uses only first and last name to determine whether a particular item of information relates to a particular consumer, without using other personally identifying information such as address, date of birth, or Social Security number." According to the advisory opinion, it is not a reasonable procedure to use name-only matching to match information to the consumer who is the subject of the report in preparing a consumer report. The CFPB reasons that there is a high risk that name-only matching "will result in the inclusion of information that does not pertain to the consumer who is the subject of the report."
Truescreen has received multiple questions regarding the impact the CFPB advisory opinion will have in places such as California and Michigan, where courts are beginning to limit the availability of identifying information on a subject's record. Neither California nor Michigan courts have provided final guidance on how identifying information will be redacted across the respective states. Truescreen will update clients as soon as we receive more information.
However, pending additional guidance from the courts, Truescreen will continue to require multiple identifiers on a subject before including information on a report to remain in line with CFPB guidance. This means that we are unable to report items if we cannot obtain any other identifier, other than the subject's name. Truescreen will continue to put forth efforts in obtaining additional identifiers where possible.
If you have any questions on the CFPB advisory opinion, please feel free to contact your Account Manager.
Posted: November 12, 2021