The Fair Credit Reporting Act was ahead of its time in terms of assuring consumer rights re: the accuracy of the data that is involuntary reported about consumers. One of the next frontiers is establishing consumers’ rights to control that data. Listen to Microsoft’s president discuss . . . Your rights are being violated and […]
Author Archives: Inter_admin
Goldman Sachs and Apple have included an arbitration provision in the Apple Card customer agreement. It basically means you can’t join a class action lawsuit against either company, experts said. Customers can also easily opt-out of arbitration — here’s how you do it. https://www.cnbc.com/2019/08/21/apple-card-arbitration-agreement-how-to-opt-out.html
The Trump administration imposed sweeping changes to U.S. immigration policy this week, including letting the government—apparently for the first time—weigh prospective immigrants’ credit history when deciding who gets to come to the U.S. and who gets to stay. https://www.wsj.com/articles/new-trump-administration-rule-will-look-at-immigrants-credit-histories-11565973971
https://blog.myfico.com/credit-actions-affect-fico-scores/ The way you manage your finances and use credit (both positively and negatively) can impact your FICO® Scores. But how your FICO Scores change can vary widely depending on your credit profile and how you have used and managed your credit previously.
https://www.cnbc.com/2019/09/01/many-minorities-avoid-seeking-credit-due-to-decades-of-discrimination.html There is longstanding debate over whether the algorithms that drive the credit scoring system are racially biased. Joanne Gaskin, vice president of scores and analytics at credit-scoring company FICO, says the firm doesn’t use age, address, employment, income, gender or race in generating their scores. “The fact that race is not factored into the […]
If you’re trying to clean up your credit, you’ll come across plenty of companies offering an easy fix. But any company promising instant results for a price is likely a scam. https://www.consumer.ftc.gov/blog/2019/06/there-are-no-quick-fixes-clean-your-credit-0?utm_source=govdelivery
https://video.foxbusiness.com/v/6072917673001/#sp=show-clips
The top three credit bureaus (also known as credit reporting agencies) are Experian, Equifax and TransUnion. When you’re applying for credit, lenders depend on the data provided by these bureaus to make their decision whether or not to lend you money. So where does this data come from in the first place? https://blog.myfico.com/how-credit-bureaus-get-your-info/
Despite the growing embrace of such measures, some consumer advocates say the trend will hurt lower-income or minority borrowers. “It entrenches and perpetuates inequality in such an obvious and stark way,” says Chi Chi Wu, an attorney for the National Consumer Law Center, who adds that the existing system already makes it harder for people […]
https://blog.myfico.com/top-10-warning-signs-of-identity-theft/ Identity theft occurs when a criminal uses your personal information for their own benefit or to commit fraud. For example, the thief might use your driver’s license or Social Security number to open an account in your name. Once their process is complete, they can run up bills in your name.