Category Archives: Credit Scores

People of Polish Ancestry Should Check Their Credit Files

William Shakespeare famously wrote, “What’s in a name? That which we call a rose by any other name would smell as sweet.” But, for many of us, names are important since they give us our identity. Especially our last names. Surnames are a source of pride since they link us to our families and ethnic […]

Popular English Surnames Can Lead to Credit Report Problems

What’s the most common last name in the United States? If you guessed Smith, you are correct. Nearly three million people in the country have that surname. The name of Smith originated in England, where over 600,000 people bear that moniker today. Other common English last names include Jones, Taylor, Brown, Williams, Wilson, Johnson, Davies, […]

Common French Surnames Can Cause Credit History Problems

The nation of France is known for its contributions to art and culture, from the architectural marvels of the Eiffel Tower and the Palace of Versailles to the fashion runways of Paris to the masterpieces in the Louvre Museum. And don’t forget the food and wine! The people of France have a lot to be […]

Credit Bureaus Removing Some Medical Debt from Credit Reports

In May 2022, the three national credit bureaus, Experian, Equifax, and TransUnion, removed unpaid medical debts of less than $500 from American consumers’ reports. According to the government’s Consumer Financial Protection Bureau (CFPB), this move will impact approximately 22.8 million consumers. While more needs to be done, this is a major step in the right direction. […]

A Record Year of Complaints for the Three National Credit Bureaus

Credit Bureaus are the worst. That isn’t just hyperbole. That’s the finding from a new U.S. PIRG Education Fund analysis. Confirming what you already knew, PIRG reviewed complaints made to U.S. financial firms—regarding everything from student loans to credit cards. And PIRG concluded that the “Big 3” credit bureaus received more complaints than any other […]

CFPB Orders Portfolio Recovery to Pay More than $24 Million (Part 2)

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 […]

CFPB Orders Portfolio Recovery to Pay More than $24 Million (Part 1)

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 […]

New Report Shows Progress in the Fight Against Credit Bureau Errors and More—But We Aren’t Done Yet

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 […]

Credit Bureaus Under Increasing Scrutiny from Feds and Consumers Alike

A little-known governmental entity—the Consumer Financial Protection Bureau (CFPB)—plays a significant, if unnoticed, role in American consumers’ lives. And it could get even bigger. That’s because one of the CFPB’s chief responsibilities is tracking, analyzing, and investigating consumers’ complaints against the national credit reporting agencies. It’s becoming increasingly clear there’s a concern with credit reporting, […]