Equifax

Household debt falls for first time since 2014

08/06/20

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

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Industry bristles at Biden proposal for public credit reporting agency

07/21/20

Banking and credit reporting groups say such an agency could politicize the reporting process. Consumer groups say it would offer consumers a necessary alternative.

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Coronavirus still a threat to credit scores despite congressional relief

06/01/20

The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.

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Dems' bid to pause negative credit reporting gets pushback from industry

03/23/20

Congressional Democrats want forceful action to prevent damage to millions of Americans' credit scores during the COVID-19 pandemic. But the credit bureaus argue that the tools needed to protect consumers are already in place.

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Charges in Equifax hack; Varo Money passes FDIC test

02/11/20

Four Chinese military members charged with stealing data of 150 million Americans; fintech can use deposit insurance, a step toward a full bank charter.

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U.S. charges four Chinese military members in Equifax hack

02/10/20

The four members of China’s People’s Liberation Army are accused of masterminding the breach that affected more than 140 million people.

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Credit reporting bill passes House but faces long odds in Senate

01/30/20

No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.

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Equifax to pay $380.5M to cover claims from 2017 breach

01/16/20

Under terms of the settlement approved by a Georgia court Monday, Equifax may also have to pay an additional $125 million if the initial amount doesn't cover all the claims.

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‘Absolute scam’: Complaints about credit monitoring plans flood CFPB

10/20/19

Regulators have long warned the credit bureaus about deceptive marketing that causes consumers to sign up unwittingly for paid monitoring services. But the practice has persisted, according to complaint data.

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