TransUnion Featured in U.S. News & World Report on Changes Coming for Renters

For the 40 million Americans living in rental properties across the country, important changes are coming for the background screening reports that often facilitate new leases. Earlier this year, the Consumer Financial Protection Bureau (CFPB) offered guidance on how the Fair Credit Reporting Act applies to background screening reports – a move that’s starting to gain some attention.

TransUnion Senior Vice President Maitri Johnson spoke with U.S. News & World Report about the significance of that guidance and the changes coming for renters. Here’s an excerpt:

According to Johnson, if these changes are implemented, renters may notice that information is easier to read. For example, one of the changes that the agency aims to enforce is that evictions still in process are not shown on a background check without a final judgment. Johnson also notes that TransUnion already made this change last year, and the consumer reporting agency believes these changes will eventually become industry practice and will make it easier for consumers to get into rental units.

“In the near term, we believe the industry is going to be making these very important changes. We're already seeing evidence of that,” Johnson says.

TransUnion is a supporter of the CFPB’s efforts to improve the background screening ecosystem and is committed to empowering consumers with reliable information to reach their goals. Read more at U.S. News & World Report here.