Mistakes on your credit report aren’t just annoying—they can cost you real money. Whether it’s a loan denial, a surprise drop in your credit score, or bills from accounts you didn’t open, these errors can leave you dealing with long-term financial consequences. In many cases, the root cause is identity theft—or a simple mistake that […]
Category Archives: Identity Theft
Identity theft is one of the most troubling experiences a consumer can face, often leaving victims not only emotionally shaken but also burdened with complicated financial consequences. When an identity thief uses your personal information to open fraudulent credit accounts, it can quickly lead to errors on your credit report. These inaccuracies may impact your […]
In 2016, Wells Fargo made headlines when it paid $110 million to settle a class action lawsuit and another $185 million in fines relating to allegations that the bank had created as many as 2 million accounts for customers without getting their permission to do so. Then, in December 2022, it paid a whopping $3.7 […]
In June 2023, the New York Times Sunday Magazine looked inside the chaotic world of “credit repair” companies. The feature tells the story-after-story of how bad credit can ruin people’s financial lives—pushing them to the brink, financially and psychologically. It reveals how credit scores have ties to serious racial and sociological inequity. It explores how […]
William Shakespeare famously wrote, “What’s in a name? That which we call a rose by any other name would smell as sweet.” But, for many of us, names are important since they give us our identity. Especially our last names. Surnames are a source of pride since they link us to our families and ethnic […]
The nation of France is known for its contributions to art and culture, from the architectural marvels of the Eiffel Tower and the Palace of Versailles to the fashion runways of Paris to the masterpieces in the Louvre Museum. And don’t forget the food and wine! The people of France have a lot to be […]
It’s astonishing how frequently revelations of a data breach have hit the news. But these events are so frequent they may get less media coverage than they warrant. That can hurt consumers—because if you’re not aware of breaches, you won’t know that your data has been compromised and take steps to protect yourself from identity […]
Credit Bureaus are the worst. That isn’t just hyperbole. That’s the finding from a new U.S. PIRG Education Fund analysis. Confirming what you already knew, PIRG reviewed complaints made to U.S. financial firms—regarding everything from student loans to credit cards. And PIRG concluded that the “Big 3” credit bureaus received more complaints than any other […]
In March 2023, the Consumer Financial Protection Bureau announced an order against Portfolio Recovery Associates (PRA), one of the nation’s largest debt collection agencies. In our previous post, we addressed how PRA had violated a previous order and provisions of the Fair Credit Reporting Act. In this post, we’ll explore how this order affects impacted […]