Fair 25°
Tag:

Fair Credit Reporting Act

Business
Equifax Fined $15M For Inaccurate Credit Scores Days After NY Settlement: CFPB Equifax Fined $15M For Inaccurate Credit Scores Days After NY Settlement: CFPB
Equifax Fined $15M For Inaccurate Credit Scores Days After NY Settlement: Cfpb One of the nation’s largest credit reporting agencies has been fined $15 million for issuing inaccurate credit scores and failing to properly investigate consumer disputes, officials said. Equifax will pay the fine into the Consumer Financial Protection Bureau's victims relief fund, the federal agency said in a news release on Friday, Jan. 17. The CFPB's investigation found Equifax ignored critical evidence submitted by consumers disputing inaccuracies in their credit reports. According to the CFPB, Equifax also allowed deleted errors to resurface and relied on flaw…

SHARE

by Chris Spiker
News
Feds Finalize Rule Erasing $49 Billion In Medical Debt From Credit Scores, CFPB Says Feds Finalize Rule Erasing $49 Billion In Medical Debt From Credit Scores, CFPB Says
Feds Finalize Rule Erasing $49 Billion In Medical Debt From Credit Scores, Cfpb Says About 15 million Americans will see their credit reports cleared of medical debt under a new rule approved by the Consumer Financial Protection Bureau. The CFPB has finalized a landmark rule that removes $49 billion in medical debt from credit reports, the bureau said in a news release on Tuesday, Jan. 7. The regulation also prohibits lenders from using medical information in lending decisions when evaluating loan applications. The rule is expected to raise credit scores by an average of 20 points and enable the approval of 22,000 additional mortgages annually. "People …

SHARE

by Chris Spiker