A separate “mixed file” case against Equifax went to trial in 2013 and ended with a $18.6 million jury award. The sum was reduced to $1.62 million in damages and $300,000 in legal fees during post-trial proceedings. During that trial, an expert for Equifax testified mixed files could happen in 1% to 2% of all […]
Wonder how a late payment affects consumers differently? See a sample comparison by FICO. https://www.cnbc.com/select/what-happens-when-you-miss-a-credit-card-payment/ As you can see, the higher your credit score, the greater negative effect a 30- or 90-day missed credit card payment has on your account. That’s because someone with a lower credit score already has their past behavior reflected in […]
A new credit score will soon factor in consumers’ rent payments and professional licenses to help them get approved for loans. https://www.wsj.com/articles/hairdresser-plumber-lawyer-a-job-license-could-help-you-get-a-loan-11573041600
When you shop at retailers in-store or online, chances are you’ve been asked at checkout if you want to apply for a store card. They frequently come with tempting offers — sign up and get a huge discount on your purchase — but there are several drawbacks to consider before you apply. https://www.cnbc.com/select/why-you-should-almost-always-avoid-store-credit-cards/
Have you ever found yourself fuming at the credit bureaus? You have plenty of company. https://www.chicagotribune.com/business/sns-201910101456–tms–kplngmpctnkm-a20191022-20191022-story.html
James Rennick was in desperate need of money to help his ailing wife, but an incorrect credit report stood in his way, this lawsuit alleges https://www.marketwatch.com/story/this-woman-says-equifax-mixed-up-her-fathers-credit-report-and-destroyed-his-life-now-she-hopes-to-convince-a-jury-2019-10-25
Starting October 31, many members of the military will have access to a free tool to help spot identity theft. https://www.consumer.ftc.gov/blog/2019/10/free-electronic-credit-monitoring-coming-soon-military?utm_source=govdelivery
Reed & Van Hollen Introduce the Consumer Credit Control Act WASHINGTON, DC – In an effort to empower consumers and put Americans in control of their personal information and credit reports, U.S. Senators Jack Reed (D-RI) and Chris Van Hollen (D-MD) today introduced the Consumer Credit Control Act. This bill would amend the Fair Credit Reporting […]
Hackers look for open doors. If your personal data isn’t protected, it’s that much easier to compromise your identity. https://bigthink.com/videos/data-breach
A trade association representing credit bureaus Equifax, Experian and TransUnion has sued New Jersey to block a new law that requires them to make credit reports available in Spanish and 10 other languages. https://www.nj.com/news/2019/10/nj-sued-over-new-law-requiring-credit-reports-in-spanish-10-other-languages.html