Category Archives: Credit Scores

Hyundai Must Pay More than $19 Million for Furnishing Incorrect Information to Credit Bureaus

Last year, the Consumer Financial Protection Bureau (CFPB) ordered Hyundai Capital America (HCA) to pay more than $19 million in penalties for giving inaccurate information to the financial credit bureaus—making this the CFPB’s largest case against an automotive servicer for violations of the Fair Credit Reporting Act. Of the penalties, $13 million will impact Hyundai […]

When Married Couples Have the Same Name

Recently, the Wall Street Journal had an article about married couples who wound up having the same name. And this issue may become more common as names previously considered male or female become gender-neutral. For example, in November of 2022, movie star Taylor Lautner married Taylor Dome, who became Mrs. Taylor Lautner. While the article […]

African American Last Names And Credit Errors

A person’s surname can reveal a lot of information about them, particularly their ethnicity or ancestry—but it’s not always safe to assume that you know who someone is because of their last name. Plenty of folks get their name from marriage; others take the name of their adoptive family. Some people make up their name […]

No Need To Buy A Vowel: Most Popular Italian Surnames

You’re probably aware that many Italian surnames have a vowel as the final letter, but the number of them that end with an A, E, I, or O might surprise you. Of the top 100 Italian surnames, 96 fit that convention! Piras, de Angelis, de Santis, and Dal are the only four that do not […]

Germans in America: Fun Facts, Possible Problems

The story of German people in America is as old as the story of America itself. Most people know that immigrants from all over Europe flocked to the United States in the 1800s, but the German population here had some 200 years of American life under their belts by then. A few of the notable […]

How Debt Collectors Furnish Data to Credit Bureaus (Part Two)

If you haven’t yet, read part 1! Though tradelines—reports of outstanding debts—can considerably impact a consumer’s credit report and credit score, a report by the Consumer Financial Protection Bureau (CFPB) reveals that debt collection reporting is uneven and suspect. Updating the information on a credit report often does not depend on the debt resolution. Instead, […]

How Debt Collectors Furnish Data to Credit Bureaus (Part One)

According to a report by the Consumer Financial Protection Bureau (CFPB), debt collectors provide vast amounts of data to the three national credit bureaus—Experian, Equifax, and TransUnion. The bureaus then use the debt collectors’ data in calculating the credit reports (and credit scores) of 220 million consumers. And concerningly, the CFPB has identified critical issues […]

Understanding Section 611(e) of the Fair Credit Reporting Act

If you’re one of the hundreds of thousands of American consumers frustrated by problems with their credit reports—maintained by one of the nation’s three largest credit bureaus, Experian, Equifax, and TransUnion—you may wonder if there’s anything you can do. But there are ways to repair your credit. Let’s briefly look at one such tool: Section […]

Common Customer Complaints about Credit Reporting Bureaus (Part 2)

In our last post (click here to read part 1), we looked at the dramatic increase in consumers’ complaints against the national credit bureaus, Experian, Equifax, and TransUnion. But, of course, we need to do more than know the number of complaints we need to pay attention to. We also want to examine the types […]

Data Breaches and Protecting Against Identity Theft

On August 17th 2021 the mobile phone company T-Mobile revealed that they had discovered a cyberattack had exposed certain personal information of around 7.8 million current customers, and information about around 40 million former customers to bad actors. The data included names, dates of birth, social security, and driver’s license or identification information. Financial, credit […]