In June 2016, the Credit Reporting Agencies announced enhanced public record data standards for the collection and timely updating of civil judgments, tax liens and bankruptcy public records reported on consumer credit reports.
The new standards went into effect this month and include the following:
- Bankruptcy public record data remains the same.
- All civil judgment public record data has been removed.
- A minimum of 60% of tax lien public record data that does not meet the new standards has been removed.
The focus was on: minimum required consumer identifying information (name, address, social security number and/or date of birth) and minimum frequency of courthouse visits to obtain newly filed and updated public records (no less frequent than once every 90 days).
Read the TransUnion NCAP Public Record White Paper here.
