In May 2025, the CFPB rescinded a 2022 interpretive rule, which had expressed the agency’s view that the Fair Credit Reporting Act’s preemption provision has “a narrow sweep,” which allows for substantial State regulation of
consumer reports and consumer reporting agencies.
Today, a new interpretive rule appeared for public inspection at the Federal Register, adopting a much broader view of preemption, and calling into question several state laws on credit reporting. The rule is scheduled to be published in the Federal Register on October 28, 2025.
