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Credit bureaus are regulated by the Fair Credit Reporting Act (FCRA), a federal consumer protection law. The FCRA is designed to protect your privacy and ensure your credit reports are accurate.
By Pete Schroeder (Reuters) -The U.S. Consumer Financial Protection Bureau announced on Friday it had fined credit reporting bureau Equifax $15 million for failing to sufficiently investigate ...
Credit bureaus, a type of consumer reporting agency, hold a consumer's credit report in their databases. CRAs have a number of responsibilities under FCRA, including the following: CRAs must maintain reasonable procedures to ensure the maximum possible accuracy of the information contained within a consumer's report; [9]
The 2017 data breach landed the consumer credit ratings agency with a record fine, and analysts say the company fumbled its response. A hack at Equifax exposed the data of 147 million people.
US credit reporting companies have been accused of illegal behaviors by misstating costs and usefulness of credit scores, tricked consumers into recurring payments, and lying about reports. [59] The Consumer Financial Protection Bureau (CFPB) charged both Equifax, Inc. and TransUnion with deliberate deceit of consumers about the value of the ...
Fair and Accurate Credit Transactions Act; Other short titles: Financial Literacy and Education Improvement Act: Long title: An Act to amend the Fair Credit Reporting Act, to prevent identity theft, improve resolution of consumer disputes, improve the accuracy of consumer records, make improvements in the use of, and consumer access to, credit information, and for other purposes.
Daily TransUnion & Daily Equifax full reports [8] TransUnion, Equifax [8] Sometimes [9] VantageScore 3.0 [10] Credit Sesame Monthly summary [11] TransUnion [11] Last 4 digits only [11] VantageScore 3.0 [11] Equifax Core Credit Monthly summary [12] Equifax Last 4 digits only [12] VantageScore 3.0 [12] FICO Free Credit Score Plan Monthly summary ...
Equifax Data Breach, ... Obvious Errors and No Real Changes, New Report Says. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Sign in ...