House Passes Protecting Your Credit Score Act to Improve Credit Reporting Systems · Consumer Federation of America

Washington, D.C. – Today, the U.S. House of Representatives passed the Protecting Your Credit Score Act of 2020 (H.R. 5332), a bipartisan bill sponsored by Rep. Josh Gottheimer (NJ) that would increase protection of consumer data, transparency of credit reporting, and accountability of the credit reporting agencies, furnishers, and companies that develop credit scoring models. Specifically, this bill will create a...

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Blockchain Startup Bloom Partners With TransUnion To Offer Credit Monitoring

Identity theft continues to be a global issue as data breaches remain prevalent. Blockchain startup … [+] Bloom wants to help consumers find and protect their leaked data. (Photo by Ted Soqui/Corbis via Getty Images) Corbis via Getty Images Data breach events and identity theft are among the biggest downsides to doing business online. Every year, hundreds of millions of...

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Equifax Helps Consumers Maintain Credit Standing While Applying For Phone, Internet And Pay TV Services

Press release content from PR Newswire. The AP news staff was not involved in its creation. https://apnews.com/press-release/PR%2520Newswire/e74fa04e8e6a7df4b70f8ee09524f2a7 Click to copy ATLANTA, April 6, 2020 /PRNewswire/ — Equifax Inc.[1] (NYSE: EFX) understands the significant impact that the COVID-19 pandemic is having on consumers across the United States. Shelter-in-place orders, curfews and social distancing have made the ability to connect important to...

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FICO changes could lower the credit score of millions of Americans, raise others

FORT MYERS Another change is coming soon to how credit scores are calculated. The Fair Isaac Corporation (FICO) is a credit score reporting company that provides a score to judge your creditworthiness for lenders. The Wall Street Journal[1] is reporting the changes could affect the score of millions of Americans, making it harder to get loans. It’s anticipated the scores...

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Defendants in FTC Credit Repair Scheme Case Agree to Settle Charges

The operators of a bogus credit repair scheme are banned from the credit repair business and subject to a wide array of other requirements under settlement terms with the Federal Trade Commission. The settlements relate to an FTC complaint filed in June 2019[1] alleging that the defendants targeted consumers with false promises of substantially improving consumers’ credit scores by claiming...

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FTC Stops Operators of Fake Credit Repair Scheme

At the Federal Trade Commission’s request, a federal court has temporarily halted and frozen the assets of Grand Teton Professionals, an alleged credit repair scheme that charged illegal upfront fees and falsely claimed to repair consumers’ credit. The company and other defendants are charged with violating the FTC Act and several provisions of the Credit Repair Organizations Act, the Telemarketing...

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Paid Credit Repair Increases Consumers’ Credit Scores Surprisingly Well, New Study by Credit Knocks Finds

Press release content from Newswire. The AP news staff was not involved in its creation. https://apnews.com/press-release/Newswire/a7c877a9307c6bec73efd410b9f7c85a Click to copy SAN DIEGO, Calif. – October 23, 2019 – ( Newswire.com[1] ) According to new research from Credit Knocks[2], ​48.1% of consumers who paid for professional credit repair services for 6 months or more saw an increase of 100 points or more to...

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In FTC Study, Five Percent of Consumers Had Errors on Their Credit

A Federal Trade Commission study of the U.S. credit reporting industry found that five percent of consumers had errors on one of their three major credit reports that could lead to them paying more for products such as auto loans and insurance. Overall, the congressionally mandated study on credit report accuracy found that one in five consumers had an error...

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