Tag Archives: credit reports

New York City Businesses Must Comply with New Law Banning Credit Checks by Employers

CreditReport

Written By ESR News Blog Editor Thomas Ahearn

With New York City passing the nation’s strongest ban on employment credit checks that took effect on September 3, 2015, businesses in the Big Apple need all the help they can get to comply with this new law that strictly prohibits most employers from using credit history to decide whether to hire, fire, or promote an individual. Continue reading

CFPB Finds Complaints about Credit Reports Rising Sharply

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has released its Monthly Complaint Report that found complaints about credit reports sharply increased compared to the prior month and the prior year. The CFPB Monthly Complaint Report can be found at: http://files.consumerfinance.gov/f/201508_cfpb_monthly-complaint-report-vol-2.pdf. Continue reading

Bill Would Prohibit Employers from Using Credit Reports in Background Checks

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

Legislation introduced in the U.S. Senate – the “Equal Employment for All Act of 2015” – would amend the federal Fair Credit Reporting Act (FCRA) to prohibit employers from using the credit reports of job applicants and current employees during background checks for employment. The text of the legislation is at http://www.warren.senate.gov/files/documents/Equal_Employment_for_All_Act_of_2015.pdf. Continue reading

Woman Sues Credit Reporting Agencies for Declaring Her Dead

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

A St. Louis, Missouri woman has filed a lawsuit against the “big three” credit reporting agencies – Equifax, Experian, and TransUnion – for declaring her “deceased” in her credit files and making it impossible for her to receive credit or loans, according to a story from the St. Louis Post-Dispatch. Continue reading

Consumer Reporting Fairness Act Would Help Fix Inaccurate Credit Reports

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

Legislation introduced in the U.S. Senate – S. 1773 – the “Consumer Reporting Fairness Act of 2015” – would require creditors to inform consumer reporting agencies (CRAs) that certain debts have been discharged in bankruptcy cases, making it easier for consumers who rid themselves of credit card debt to fix inaccurate credit reports that do not reflect a clean financial slate. The text of S. 1773 is available at https://www.congress.gov/bill/114th-congress/senate-bill/1773/text. Continue reading

Credit Reporting Agencies to Pay $6 Million Settlement

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

Attorney Generals from 31 states have announced that the three main credit reporting agencies – Equifax, Experian, and TransUnion – agreed to pay a $6 million settlement to their states and change their business practices to benefit consumers, according to a news release from Ohio Attorney General Mike DeWine, who initiated a multi-state investigation in 2012 that resulted in the settlement. Continue reading

New York City to Bar Employers from Viewing Credit Reports of Job Seekers

CreditReport

Written By ESR News Blog Editor Thomas Ahearn

The New York City Council is expected to pass a bill – “Stop Credit Discrimination in Employment Act” (Int. No. 261-A) – that will bar employers from viewing the credit reports of job seekers and also prohibit them from asking about credit scores in job interviews, according to an exclusive report from the New York Daily News. (UPDATE: The New York City Council passed a bill that makes it illegal to request or use a job applicant’s credit history in making a hiring decision and bars most employers from checking a job candidate’s credit record. Read the full story.) Continue reading

300 Credit Reports Sent to Woman by Mistake

 Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

A woman in Maine who requested a free credit report for herself online inside returned home one night to find her mailbox full with more than 300 credit reports addressed to her but containing confidential information belonging to other people, according to a report from WGME CBS 13 in Portland, ME. Continue reading

Credit Reporting Agencies Announce Plan to Improve Credit Report Accuracy

Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

The three leading national Credit Reporting Agencies (CRAs) – Equifax, Experian, and TransUnion – have announced a National Consumer Assistance Plan to improve the collection of complete and accurate consumer information while giving consumers more transparency and improved interaction with credit bureaus about credit reports, according to a joint press release from all three companies. Continue reading

FTC Issues Credit Report Accuracy Study

Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

A follow-up study of credit report accuracy issued by the Federal Trade Commission (FTC) has found that most consumers with previously reported unresolved errors on their credit reports believe that some disputed information on those reports is still inaccurate, according to an FTC press release. The study is available here: Report to Congress Under Section 319 of the Fair and Accurate Credit Transactions Act of 2003. Continue reading