CFPB and credit report abuses

The credit reporting industry has a profound and growing impact on Americans' economic lives—from whether you can rent an apartment to how much your car loan costs to whether you get hired for a job—yet the entire system falls dangerously short on basic goals of fairness and accuracy. That was the...
03/03/2014
Blog
Our personal information is compiled, traded, analyzed and sold off as never before. Not only do business and government track us online, but retailers trace our cell phones through stores, and vast, little-known databases can keep us from getting jobs, qualifying for loans, and opening bank...
07/31/2013
Blog
The first astonishing thing about the nation’s credit reporting system is its sheer massive size: data is compiled and exchanged about 1.3 billion consumer credit accounts pertaining to 200 million American adults. But what’s even more astonishing is how control over this ocean of data...
12/14/2012
Blog
Are you breathing a sigh of relief, job applicants? If a prospective employer runs a background check prior to hiring you, the chances they’ll falsely learn that you’re an armed robber, “a sex offender who [is] in prison at the time” or something similarly misleading are...
11/09/2012
Blog
The credit reporting industry has given us plenty to complain about:  credit reports too often contain errors,  the errors are fiendishly hard to fix, reports and scores are not accessible enough to consumers, and credit information is increasingly being used for a variety of extraneous...
10/22/2012
Blog
Without your consent, approval, or even awareness, large for-profit credit reporting companies know an awful lot about you. TransUnion, Experian, Equifax and their smaller competitors know the credit limit on your AmEx card, how much you still owe in student loans, and all about that time you made...
07/18/2012
Blog
One of the major companies responsible for the nation’s credit meltdown will now control your personal credit history. Goldman Sachs Capital Partners, the private equity wing of the financial firm, has partnered with another private equity company to buy the credit reporting firm TransUnion....
02/22/2012
Blog
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