Category: Credit Reports

Disputes on Credit Reports More Common in Minority Neighborhoods

Written By ESR News Blog Editor Thomas Ahearn In November of 2021, the Consumer Financial Protection Bureau (CFPB) released a report about “Disputes on Consumer Credit Reports” that found consumers in majority Black and Hispanic neighborhoods, younger consumers, and those with low credit scores were far more likely to have disputes appear on their credit …

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U.S. Senators Send Letter Urging CFPB to Fix Broken Credit Reporting System

Written By ESR News Blog Editor Thomas Ahearn On November 10, 2021, U.S. Senators Brian Schatz (D-HI), Sherrod Brown (D-OH), Ron Wyden (D-OR), Elizabeth Warren (D-MA), Jack Reed (D-RI), Chris Van Hollen (D-MD), and Ben Ray Luján (D-NM), sent a letter urging the Consumer Financial Protection Bureau (CFPB) to take concrete steps to reform the …

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Hearing Examines Proposals to Overhaul Credit Reporting to Achieve Equity

Written By ESR News Blog Editor Thomas Ahearn On June 29, 2021, the United States House of Representatives Committee on Financial Services held a hybrid hearing entitled “A Biased, Broken System: Examining Proposals to Overhaul Credit Reporting to Achieve Equity” on a virtual meeting platform and at the Rayburn House Office Building in Washington, D.C. …

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Man Discovers Millions of Dollars of Debt Mistakenly Added to His Credit Report

Written By ESR News Blog Editor Thomas Ahearn A man from North Las Vegas, Nevada, who is a first-time homebuyer applying for a mortgage along with his wife was shocked to see his “credit score just tank” and discovered that millions of dollars of debt was mistakenly added to his credit report, according to a …

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Free Weekly Credit Reports Available for Additional Year Due to COVID-19

Written By ESR News Blog Editor Thomas Ahearn In March 2021, the three nationwide consumer credit reporting agencies – Equifax, Experian, and TransUnion – announced they were extending free weekly credit reports to Americans for an additional year until April 20, 2022, to continue to help people across the country manage their financial health during …

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Appeals Court Affirms Dismissal of Lawsuit Claiming Violations of FCRA

Written By ESR News Blog Editor Thomas Ahearn On August 10, 2020, the U.S. Court of Appeals for the Second Circuit affirmed a September 2019 Connecticut district court decision that dismissed a lawsuit claiming violations of the federal Fair Credit Reporting Act (FCRA) because a consumer had not notified a Credit Reporting Agency (CRA) of …

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FCRA Lawsuit Claims TransUnion Mislabeled Man as Terrorist on Credit Report

Written By ESR News Blog Editor Thomas Ahearn On August 24, 2020, a Pennsylvania man filed a class action lawsuit in federal court claiming TransUnion violated the Fair Credit Reporting Act (FCRA) by mislabeling him as a terrorist on his credit report because his name resembled two people on a terrorist watch list, a news …

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CFPB Consumer Credit Report Complaints Surge During COVID-19 Pandemic

Written By ESR News Blog Editor Thomas Ahearn In July 2020, a record number of consumers filed complaints with the Consumer Financial Protection Bureau (CFPB) for the fifth consecutive month due to the Coronavirus (COVID-19) pandemic, led by a surge in credit report complaints, according to analysis by U.S. PIRG (Public Interest Research Group) and …

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U.S. House Passes “Protecting Your Credit Score Act” that Would Amend FCRA

Written By ESR News Blog Editor Thomas Ahearn On June 29, 2020, the United States House of Representatives passed the “Protecting Your Credit Score Act” (H.R. 5332) that would amend the federal Fair Credit Reporting Act (FCRA) to ensure, among other purposes, that consumer reporting agencies (CRAs) are providing fair and accurate information reporting in …

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Americans Offered Free Weekly Credit Reports for One Year Due to COVID-19

Written By ESR News Blog Editor Thomas Ahearn On April 20, 2020, the three national credit reporting agencies in the United States – Equifax, Experian, and TransUnion – in a joint action announced they are offering free weekly credit reports to Americans for the next year to help them protect their financial health during the …

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