Debt collection on steroids. Now in China. Where next? So-called auto-backed lenders—which charge annualized interest rates as high as 36%—install tracking devices in cars by hiding them inside bumpers, under seats or behind mirrors to prevent them from being removed by borrowers. When people fail to repay their debts, collectors act quickly to repossess […]
Author Archives: Inter_admin
As proposed, the Act requires the Secretary of Veterans Affairs to establish a database – not later than one year after enactment – to allow consumer reporting agencies to verify whether a debt furnished to a consumer reporting agency is veteran’s medical debt. https://www.natlawreview.com/article/mend-bill-requiring-delayed-reporting-veterans-medical-debts-seeks-to-correct
Today, U.S. Senators Marco Rubio (R-FL) and John Kennedy (R-LA) introduced the Small Business Credit Protection Act, legislation that would require credit bureaus to inform small businesses, within 30 days, of a nonpublic personal data breach. The bill would also prohibit credit bureaus from charging small businesses for a credit report within 180 days following a breach. In […]
Uber will pay $148 million to settle a nationwide investigation into a 2016 data breach, in which a hacker managed to gain access to information belonging to 57 million riders and drivers. The breach included names and driver’s license numbers for 600,000 drivers. The investigation, led by state attorneys general across the United States, […]
Tech watchdog Krebs on Security reports that the U.S. Secret Service sent an internal alert on November 6 warning that scammers are using the Informed Delivery feature “to identify and intercept mail, and to further their identity theft fraud schemes.” They also want to use the service to “surveil potential identity theft victims” on criminal forums, Krebs reports. […]
Stanford University is facing a new Fair Credit Reporting Act class action with, potentially, over a thousand class members. And it’s not the first time Stanford has faced these claims. Notably, this isn’t the first time that Stanford has faced FCRA claims for the disclosures in their application forms. In 2015, Stanford faced precisely the same […]
Yahoo must pay $85 million and provide free credit monitoring to 200 million people as part of a settlement of what is believed to be the biggest data breach ever. The onetime internet giant, which is now owned by Verizon, has reached a settlement in a class-action lawsuit over the 2013 and 2014 hacks. […]
Members of the 850 Club can be broken into two groups. There are the super-knowledgeable tacticians trying to crack scoring algorithms, and the naturally prudent. Some are prepping for a loan. Others are just credit-score hobbyists. Paul Chua, 40, who works at San Carlos, Calif.-based Helix, a startup focused on personal genomics, is one of […]
Credit scores for decades have been based mostly on borrowers’ payment histories. That is about to change. https://www.wsj.com/articles/want-a-higher-credit-score-soon-your-cash-could-help-1540123200?mod=djemwhatsnews
Only the top 1 or 2 percent of people will have a ‘perfect’ 850 credit score,” Rod Griffin, director of consumer awareness at Experian, tells CNBC Make It. “And it probably won’t stay that way. Scores move up and down as your credit history changes. If you increase your balances, open a new account, […]