Consumer Financial Protection Bureau to Hear Complaints Regarding Credit History

Consumers can now lodge complaints against financial institutions regarding their credit history/score.  Although the bureau states that it enforces 18 consumer protection laws, a spokeswoman for the bureau says it facilitates rather than investigates complaints.  The process is fairly straightforward.  First, consumers can file a complaint by phone, fax, or letter.  Once logged the complaint… Continue reading Consumer Financial Protection Bureau to Hear Complaints Regarding Credit History

FTC Report Details Errors of the Credit Reporting Industry

The FTC has released a new report this week on the credit reporting process.  Opposed to previous reports, this one took all components of the credit reporting process into account; lenders, consumers, credit reporting agencies, and the Fair Isaac Corporation, the company which provides the FICO score.  In the study the FTC states that one in… Continue reading FTC Report Details Errors of the Credit Reporting Industry