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.
A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call.
At the same time, consumers hold banks to tougher disclosure standards than government agencies, health care organizations and retailers, according to Experian.
The Trump administration’s “public charge” rule would add credit reports to factors that could be used to deny legal residency, but critics say credit scoring was never intended for that purpose.
Legislation backed by Democrats to reform the credit bureaus and allow consumers greater access to their information advanced without any Republican support.
Aura is one of the few fintechs in the nation to have a Community Development Financial Institution designation from the U.S. Department of the Treasury.
Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.
There are steps financial firms can take to protect their customers in the event a major wireless network is compromised, including reconsidering the use of SMS messaging for account authentication.
