On May 4, 2026, ProPublica reported that there had been a sharp and alarming increase in the number of unaddressed mistakes on credit reports. Four lawmakers are now demanding answers. The Senators (Elizabeth Warren, Andy Kim, Lisa Blunt Rochester, and Tammy Duckworth) have called upon Experian and TransUnion specifically to address the problem. It matters because credit report mistakes that go unfixed can damage consumers. 

Credit report errors are a major problem. That data shows that two of the three major credit reporting agencies are correcting errors at a lower rate, which is an alarming statistic. At The Kim Law Firm, LLC, we are a consumer protection firm that handles FCRA cases. Our credit report error lawyer can help you protect your rights if you have found a mistake on your credit report. 

ProPublica Report: Substantial Uptick in the Number of Credit Report Errors

ProPublica reports that four Democratic senators are demanding answers from the nation’s largest credit bureaus. The action comes after a comprehensive report revealed a steep decline in the number of consumer complaints that have received relief through the Consumer Financial Protection Bureau (CFPB). Led by Elizabeth Warren, the lawmakers sent letters to two of the three major credit reporting agencies (TransUnion and Experian) after an investigation found both companies had sharply reduced corrections and resolutions tied to disputed credit report errors over the last year. The senators warned that inaccurate reports can prevent consumers from securing mortgages, housing, or loans. According to the report, Experian’s relief rate fell from nearly 20% of complaints in 2024 to less than 1% in 2025. In other words, Experian has suddenly changed its approach. TransUnion’s rate also dropped a lot during the same time period. 

As an example, the report highlights one consumer’s frustrated story of getting material mistakes on her credit report fixed. An accountant in Colorado noticed some serious issues on her Experian credit report. She reportedly spent tens of thousands of dollars trying to do so. For their part, the group of four Senators requested internal records, staffing information, and communications with the CFPB as part of their inquiry. As of the time of publishing, neither Experian nor TransUnion has publicly commented on the allegations. It should be noted that the third major credit reporting agency (Equifax) reportedly did not experience a comparable decline in the number of errors corrected in 2025. That raises some additional questions about the conduct of Experian and TransUnion.

The Role of the CFPB Has Changed, But the Law Has Not

A key piece of background information in this matter is that the Trump administration has recently moved to reduce the authority and staffing of the CFPB. Consumer advocates argue that weakened oversight has allowed credit bureaus to become less responsive to legitimate disputes. 

Still, the law is the same regardless of the stance of the CFPB. Credit reporting agencies are required by law (the FCRA) to investigate and address credit report errors in a timely manner. They can be held legally liable for their failure to do so. 

Why it Matters (Credit Report Errors Can Cause Big Financial Damage to Consumers)

A credit report is one of the most important financial records tied to a consumer’s name. That is no secret to most people: You know that your credit report matters. Lenders, landlords, insurers, employers, and even utility companies may rely on information from a credit report when making decisions that directly address your financial future. Unfortunately, mistakes happen far more often than many people realize. Even a relatively small error can cause a big drop in a person’s credit score. Here are some of the specific ways in which a credit report error can hurt you: 

• Denial of Mortgage or Other Housing Opportunities: Mortgage lenders closely review credit reports when evaluating loan applications. A major error may cause a consumer to be denied a mortgage entirely or forced into a far higher interest rate. Beyond that, credit problems can also interfere with rental housing applications. Most landlords run credit checks before approving tenants. 
• Higher Interest Rates (Increased Borrowing Costs): All consumers need to understand the importance of credit scores. It is more than just a number. A credit score directly affects the cost of borrowing money. That matters for a wide range of different reasons. Indeed, auto loans, personal loans, credit cards, and mortgages often become more expensive when a consumer’s credit score falls. Even a temporary reporting error may increase monthly payments by hundreds of dollars (or more) over time.
• Adverse Employment/Professional Consequences: Your credit score also matters for your career. Here is something far too many people do not know: Many employers review credit reports during the hiring process. Companies and organizations hiring for positions involving financial responsibilities or security clearances are especially likely to require a credit check. A false debt, inaccurate delinquency, or identity theft issue may create concerns about reliability or financial stability. You could even lose a job opportunity. 
• Emotional Stress and Lost Time: An error on your credit report can be extremely stressful. Indeed, credit report disputes often become exhausting for consumers. Many people spend months sending documents, making phone calls, mailing certified letters, and repeatedly explaining the same issue. The process can create substantial stress and uncertainty, particularly when the error interferes with major life decisions such as purchasing a home, refinancing debt, or relocating for work.

You Do Not Have to Wait on Lawmakers to Take Action

While the group of four senators is trying to take action to hold Experian and TransUnion accountable, it is important to emphasize that you do not have to wait for the government to take action. The Fair Credit Reporting Act (FCRA) is a federal law that you can use now. The statute regulates how credit reporting agencies collect, maintain, and distribute consumer information. Under the law, credit bureaus must follow reasonable procedures to assure maximum possible accuracy in consumer reports. Consumers also have the right to dispute inaccurate or incomplete information. Once a dispute is submitted, credit reporting agencies generally must conduct a reasonable investigation and take the proper corrective action. 

Note: The FCRA provides consumers with potential remedies when credit bureaus or furnishers fail to comply with the law. A consumer may have the right to recover actual damages for financial harm caused by inaccurate reporting. In some cases, additional statutory damages, punitive damages, and attorneys’ fees may also be available. 

Four Tips for Pursuing an FCRA Claim for a Mistake on a Credit Report

Are you considering taking legal action for a material mistake on your credit report that was not corrected in a timely manner? It is imperative that you take a proactive approach. Here are four tips for pursuing an FCRA claim for a mistake on your credit report 

• Document the Mistake: First and foremost, you need to carefully document the error on your credit report. You should not and cannot assume the credit bureau will “eventually figure it out.” In far too many cases, the major credit reporting agencies fail to update problems. As noted, the correction rates are dropping dramatically at two of the three major agencies. Given the challenges, it is imperative that you proactively pull your credit reports immediately and identify every inaccurate entry. You should save copies of the reports showing the error. Gather account statements, payment confirmations, court records, discharge paperwork, identity theft reports, or any other documents proving the information is wrong. Beyond that, you should keep screenshots and save emails. Maintain a timeline of events. A successful FCRA claim often turns on documentation. Consumers lose leverage when they rely on verbal conversations or vague recollections. Credit bureaus are large corporations. You need evidence, not assumptions, when holding them accountable. 
• Notify the Credit Reporting Agency: Under the FCRA, credit reporting agencies generally must conduct a reasonable investigation after receiving a proper dispute. By sending the proper notice (a dispute in writing that is specific about exactly what is inaccurate), you will be in the best possible position to assert your rights under the law. It is a best practice to include supporting documents and to keep copies of everything you submit. Certified mail is often the smartest option because it creates a paper trail. In other words, you should not send a one-line complaint saying, “This account is wrong.” That is not usually sufficient to get the error correct. You should be prepared to explain the problem clearly and directly. 
• Record All of Your Damages: Do you believe that an error on your credit report harmed you in any tangible way? You need to note that fact and record the damages. The simple reality is that a credit reporting error can create real financial fallout. Keep records of every consequence tied to the inaccurate information. You should save denial letters from lenders or landlords. Document increased interest rates, lost financing opportunities, rejected housing applications, and damage to your credit score. Beyond that, you should also keep notes regarding stress, lost sleep, anxiety, and the amount of time spent trying to fix the issue. The stronger the connection between the reporting error and your losses, the better you will be able to get the full and fair financial compensation that you deserve. 
• Consult With an FCRA Lawyer: Credit reporting cases are technical. The law is complicated. You do not have to take on the claims process alone. A top-rated credit report error attorney can help you navigate the FCRA. Remember, the law imposes obligations on credit bureaus, furnishers, and other entities involved in reporting consumer information. An experienced credit report error attorney can evaluate whether the conduct rises to the level of a viable legal claim. Beyond that, your lawyer can help preserve evidence, identify violations, and ensure that you do not make any avoidable mistakes.

Key Point: If your rights under the FCRA were violated by a creditor, data collection agency, credit reporting bureau, or any other party, you have the right to hold them liable for your damages. Through an FCRA claim, you can pursue compensation for the full scope of your actual losses. 

Why Trust Credit Report Error Lawyer Richard H. Kim

A challenge that consumers may have to deal with is that federal regulators (most notably, the CFPB) have adopted a less aggressive approach to regulating the major credit reporting agencies. Unfortunately, that does mean that people and families cannot rely on federal regulators to ensure compliance with the law. The good news is that consumers are by no means powerless. You have the right to take action to address an error on your credit report that has not been corrected. A top-rated attorney can help you understand your rights and your options under the FCRA.

Richard H. Kim is an experienced consumer rights lawyer who has the knowledge, skills, and professional expertise to handle the full range of credit report error cases. The FCRA is a powerful federal law for consumers. If there are any issues with your credit report, you can use the FCRA to take action and get that mistake corrected. Beyond that, the FCRA grants you the right to seek compensation for your damages. Our firm provides personalized representation to consumers who have suffered financial losses or other tangible damages due to a credit report error that was not properly corrected in a timely manner.  

Contact Our Credit Report Error Attorney Today for Help With an FCRA Claim

At The Kim Law Firm, LLC, we are a consumer rights law firm that provides solutions-focused guidance and support to consumers. If you are being adversely affected by an error on your credit report, we are more than ready to take action to help you get justice and compensation through an FCRA claim. Call us now or contact us online to arrange a strictly confidential, no-obligation initial case review. We represent consumers nationwide in credit report error cases.