Did you get a telemarketing robocall five or six years ago offering a “free cruise” in return for taking a short survey? If you did, and you can prove it, you can get about $500 for each one of those illegal calls. Florida-based Caribbean Cruise Line and its two co-defendants — Vacation Ownership Marketing Tours […]
A new legal settlement from the Consumer Financial Protection Bureau alleges that Experian, one of the big three credit-reporting bureaus, “deceptively marketed credit scores to consumers by misrepresenting” them as “the same” as what their lender would use in determining whether and on what terms to offer them a loan. In fact, said the […]
The CFPB’s vision is rooted in the obligations and rights set forth in the Fair Credit Reporting Act (FCRA) and Regulation V.1 In the last two years, we identified failings in compliance management systems and violations of law both at CRCs and at furnishers. As a result, we have directed specific improvements in data accuracy […]
The bank is upgrading all 13,000 of its ATMs to process withdrawals using smartphones rather than debit cards. Chase and Bank of America plan to roll out their own version of cardless ATMs, too. Read More
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Handing over your credit card to your teenager might not seem like a good idea. But it might actually be a smart financial move. Not only can it help kids learn money management skills, it can also help their credit score. Adding a child as an authorized user on a parent’s credit card can give […]
Experian says that the biggest component of credit card fraud trends is the fact that 2016 was a record year for data breaches. There were 1,093 breaches, a 40% increase from 2015, according to the Identity Theft Resource Center. Meanwhile, the Federal Trade Commission recently revealed a jump in consumers who reported that their stolen data […]
Credit card applications at Wells Fargo plunged by 55% in February, the sharpest decline since the bank’s fake account scandal erupted last September. Another sign of trouble: Wells Fargo (WFC) said Monday that consumers opened 43% fewer checking accounts than a year ago and interactions with branch bankers fell by 21% in the same month. Despite taking a series of steps to […]
What GAO Found Identity theft services offer some benefits but have limitations. Credit monitoring helps detect new-account fraud (that is, the opening of new unauthorized accounts) by alerting users, but it does not prevent such fraud or address existing-account fraud, such as misuse of a stolen credit card number. Consumers have alternatives to credit monitoring, including […]
Held by Maryland’s Highest Court: Midland Funding waived its right to arbitration when it sued Mr. Cain in small claims court. Because Midland was unlicensed when they sued him, the judgment against him and all other class members is VOID. Following up on their $38 million unjust enrichment verdict in Finch v. LNVN (for the […]