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 […]
Author Archives: Inter_admin
In March 2023, the Consumer Financial Protection Bureau announced that it was ordering Portfolio Recovery Associates (PRA) to pay millions to consumers. The Bureau stated that PRA had been engaging in numerous violations of law. And what made the order even more surprising is that PRA had already been fined in 2015 for other violations—so […]
They say that everyone is a little bit Irish on St. Patrick’s Day, but what about the folks who are Irish all year long? Today we’re taking a look at some of the most common Irish surnames, as well as the meanings behind those family names. Murphy Ireland’s most common surname means “descendant of sea […]
“Synthetic identity theft” is when a fraudster combines real information about someone—such as a Social Security number—and information they’ve created about an entirely fake person. They then use these “Frankenstein IDs” to commit theft. Some analysts have concluded that synthetic identity theft is the fastest-growing financial crime in the United States. At the same time, […]
The Consumer Financial Protection Bureau (CFPB) recently issued an analysis of debt collection appearing on consumers’ credit reports. On the one hand, the findings are a positive sign: Consumers’ financial well-being seems to be improving. But on the other hand, the analysis shows that false and inaccurate information on credit reports continues to be a real […]
Recently, NBC News covered an incredible story of mistaken identity. Or, perhaps, to put it more accurately, it’s a story of “mixed identity.” Two women share the same name (Jieun Kim), age, and same date of birth. Both were born in South Korea and later emigrated to the U.S.—one woman moving to Los Angeles, the […]
In April 2020, as the nation began to shut down because of the COVID pandemic, the three national credit bureaus—Experian, Equifax, and TransUnion—jointly announced they would allow Americans to get free credit reports every week. However, there are indications that the bureaus may end the policy by the end of this year. Consumer advocates are […]
On January 11, 2023, the Consumer Financial Protection Bureau (CFPB) announced that it is considering the creation of an online, public database of the form contracts being used by “nonbanks,” companies that aren’t banks but provide financial services to their customers (such as a car company that provides loans). According to the CFPB, these nonbanks […]
On January 3, 2023, the Consumer Financial Protection Bureau (CFPB) released a new report assessing the state of the nation’s credit reporting system, particularly the work of the three national credit bureaus, Experian, Equifax, and TransUnion. Compared to last year’s dismal report, the results are encouraging. While there is still a ton of work to be […]
Scott Stallings, a Georgia real estate agent, was amazed to open his mail and discover that he’d been invited to play in the Masters, one of the world’s most prestigious golf tournaments. While Stallings is an amateur golfer, once he’d recovered from the shock of receiving the invitation, he and his wife Jennifer realized the […]