Federal credit laws and rules

Citation:

90 FR 3276

Enacted:

Jan 14, 2025

The CFPB finalized a rule in January 2025 that would have kept most medical debt out of credit reports used by lenders. On July 11, 2025, the U.S. District Court for the Eastern District of Texas vacated the rule in Cornerstone Credit Union League v. CFPB, so it never took effect. Medical debt reporting is now governed by the FCRA, credit bureau policies, and state laws.

Source checked Sep 29, 2026

Citation:

Pub. L. 119-36; 15 U.S.C. 1681b(c)(4)

Effective:

Mar 4, 2026

When you apply for a mortgage, a credit bureau may no longer sell your information as a prescreened lead to other lenders unless you authorized it, or the company already originates or services your current mortgage, or is a bank or credit union that holds a current account of yours. Any such offer must be a firm offer of credit or insurance. The law took effect 180 days after it was signed.

Source checked Sep 29, 2026

Citation:

90 FR 57888

Effective:

Jan 1, 2026

The CFPB sets the most a credit bureau may charge for a copy of your file when you are not entitled to a free one. For calendar year 2026 the cap is $16.00, up from $15.50 in 2025. Many reports are still free by law, including the free reports at AnnualCreditReport.com and reports after an adverse action or fraud.

Source checked Sep 29, 2026

Citation:

90 FR 48710

Effective:

Oct 28, 2025

The CFPB issued an interpretive rule stating its view that the FCRA generally preempts state laws on the contents of credit reports and on what companies report to credit bureaus, including state laws that keep medical debt off reports. It replaced a 2022 interpretive rule that took the opposite view. The rule says itself that it is guidance and does not have the force of law, so courts decide how preemption applies.

Source checked Sep 29, 2026

Citation:

15 U.S.C. 1681 et seq.

Enacted:

Oct 26, 1970

The FCRA is the main federal law for credit reports. It limits who can see your report, requires credit bureaus and the companies that report to them to investigate disputes, and sets time limits for most negative information. It also gives you the right to see what is in your file.

Source checked Sep 29, 2026

Citation:

Pub. L. 115-174, sec. 301; 15 U.S.C. 1681c-1

Effective:

Sep 21, 2018

Federal law lets you place and lift a security freeze at each nationwide credit bureau for free, in every state. The same law extended initial fraud alerts to one year and lets a parent or guardian freeze the file of a child under 16. A freeze blocks most new creditors from seeing your report until you lift it.

Source checked Sep 29, 2026

Citation:

15 U.S.C. 1681c-2

If an account or debt on your credit report came from identity theft, the FCRA requires the credit bureau to block it once you send proof of your identity, an identity theft report, the items to block, and a statement that the information is not from a transaction you made. The bureau must also notify the company that reported the item.

Source checked Sep 29, 2026

Citation:

15 U.S.C. 1679 et seq.

Enacted:

Sep 30, 1996

CROA covers companies that charge to improve your credit record. They may not charge you before the promised services are fully performed, may not tell you to make false statements to credit bureaus, and must give you a written contract. You can cancel the contract without penalty within 3 business days.

Source checked Sep 29, 2026

Citation:

12 CFR part 1006; 85 FR 76734; 86 FR 5766

Effective:

Nov 30, 2021

Regulation F is the CFPB rule that carries out the FDCPA. It sets rules for how often collectors may call, how they may use email and text, and what a validation notice must say. It also requires collectors to let you opt out of electronic messages.

Source checked Sep 29, 2026

Citation:

15 U.S.C. 1692 et seq.

Enacted:

Sep 20, 1977

The FDCPA bans abusive, deceptive and unfair practices by third-party debt collectors. Collectors must tell you about the debt and your right to dispute it, and must stop collecting a disputed debt until they send verification if you dispute in writing within the validation period.

Source checked Sep 29, 2026

Citation:

FHA INFO 2026-21

Effective:

Jan 1, 2027

FHA announced that starting January 1, 2027, lenders may use VantageScore 4.0 and FICO Score 10T, alongside Classic FICO, to underwrite FHA-insured mortgages. Until FHA publishes updated handbook policy, lenders keep following current FHA rules.

Source checked Sep 29, 2026

Citation:

Fannie Mae LL-2026-06

Effective:

Sep 9, 2026

Since September 9, 2026, every Fannie Mae and Freddie Mac approved lender can use VantageScore 4.0 without first getting written approval. Classic FICO also remains approved, and FHFA says no retirement date for it has been set. FICO 10T is not yet eligible for delivery, and the tri-merge credit report requirement has not changed.

Source checked Sep 29, 2026