Tag Archives: Credit Reporting

The three major credit reporting agencies — Equifax, Experian, and TransUnion — are not treating consumers fairly, which is resulting in consumers suffering “serious harms,” according to a report issued yesterday by the Consumer Financial Protection Bureau. The report, along with pointing out how the three major bureaus are failing …

A number of leading Senate Democrats are calling on Rohit Chopra and the Consumer Financial Protection Bureau to “take concrete steps to reform the credit reporting industry,” including improving the accuracy of credit reports and streamlining the dispute resolution process. The Senators, including. Sen. Sherrod Brown [D-Ohio], the chairman of …

Consumers that live in neighborhoods where the majority of individuals are African-American or Hispanic, or who are delinquent on their payments, or who are younger, or who have lower credit scores are the individuals who are most likely to dispute items on their credit reports, according to an analysis conducted …

Anyone in the accounts receivable management industry who credit reports cringes when the words “Credit Karma” are mentioned. The app has led to a significant spike in the number of disputes filed by consumers about items on their credit reports and caused companies in the industry to spend more time …

A District Court judge in Arizona has granted a defendant’s motion to dismiss a class action complaint after it was sued for allegedly violating the Fair Debt Collection Practices Act for using language in a collection letter that made it seem as though both the defendant and the original creditor …

A District Court judge in Maryland has granted a plaintiff’s motion to strike four of the five affirmative defenses put forth by a defendant in a Fair Credit Reporting Act and Fair Debt Collection Practices Act case — including the use of the Bona Fide Error defense — ruling that …

When a consumer disputes an item on his or her credit report under the Fair Credit Reporting Act, the furnisher is required to conduct a “reasonable” investigation to ensure the information being furnished is accurate. But, as many furnishers have come to learn, what constitutes a “reasonable” investigation is often …

Condition codes can be tricky when credit reporting. Changing a code when an investigation is complete is not always as simple as it sounds. In the latest episode of “Ask The Credit Reporting Expert,” Lauren Burnette of Messer Strickler walks through some of the variables that come into play when …

There is a common theme to the three questions posed by members of the accounts receivable management industry to our credit reporting expert — Alicia Mckeighan, the Chief Compliance Officer at Afni — in the next episode of “Ask The Credit Reporting Expert” and that common theme is one that …

The Court of Appeals for the Second Circuit has upheld a lower court’s ruling in favor of a defendant that was sued for allegedly violating the Fair Credit Reporting Act for how it identified a default judgment that had been subsequently settled on the plaintiff’s credit report. A copy of …