Credit Reporting

The Consumer Financial Protection Bureau's consumer complaint database has contained narratives for over a year now. Each month, the CFPB publishes a report that summarizes the complaints received over the previous three months, and that focuses on a specific product and geographic area.

No, blog administrator Lawless, this is not spam. Credit scores are related to dating, as Ana Swanson reports in the Washington Post that credit scores are "eerily good at predicting" success in forming a committed relationship. The higher an individual's credit score, the more likely it is that they form a committed relationship and stay in it.

There's a fascinating long magazine piece in the NYTimes about consumer debt sales and collection. The piece ends by asking why we don't have a national debt registry, as if that were the solution to all debt collection problems.

In a recent Washington, DC study conducted by the National Foundation for Credit Counseling, study participants were asked to rank things they’d be embarrassed to admit and given five categories from which to choose. In addition to credit card debt, the options included age, weight, bank balance, credit score or none. The thing these consumers ranked as most embarrassing to admit was their credit card balances. See the actual stats in the article link above.

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