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Monday, February 27, 2017

NY Times: Avoid Willful Blindness: Know Thy Credit Reports as Part of a Retirement Plan


REVIEW YOUR CREDIT REPORT 
The three credit bureaus — Experian, TransUnion and Equifax — provide one free report annually.
Read more . . .


Wednesday, February 15, 2017

4 laws that protect your credit rights

In matters pertaining to credit, do you feel like it's you against the world? Sometimes we all feel that way, but in reality, there are rules and regulations to help protect you against credit discrimination, abuse, or improper handling of your information. Consider these four important laws that help protect your credit rights. 

http://www.ksdk.com/money/4-laws-that-protect-your-credit-rights/387019151


Read more . . .


Thursday, February 9, 2017

How the law protects you and your credit


In matters pertaining to credit, do you feel like it's you against the world? Sometimes we all feel that way, but in reality, there are rules and regulations to help protect you against credit discrimination, abuse, or improper handling of your information. Consider these four important laws that help protect your credit rights. 

http://theweek.com/articles/677173/how-law-protects-credit

  

Learn more about how our firm helps consumers to level the playing field:

http://nyconsumerlaw.com/lawyer/Practice-Areas_cp16171.
Read more . . .


Wednesday, February 8, 2017

Ninth Circuit Rules an Employer Willfully Violated the Fair Credit Reporting Act by Including Liability Waiver With the Disclosure Form


In a case of first impression, the Ninth Circuit ruled that an employer willfully violated the Fair Credit Reporting Act (FCRA) by including a liability waiver in a disclosure and authorization form that it provided to a job applicant. As a result, the employer could be held liable for statutory damages ranging from $100 to $1,000, punitive damages, as well as attorneys’ fees and costs, even though the employee did not suffer any actual harm. Syed v. M-I, LLC, 2017 WL 242559 (9th Cir. 2017).
Read more . . .


Thursday, January 19, 2017

US’ largest student loan company, Navient, cheated millions, suit alleges


Federal regulators have sued Navient, accusing the biggest U.S. student loan company of making it harder for borrowers to repay loans by giving them bad information, processing payments incorrectly and failing to act on complaints.

The Consumer Financial Protection Bureau filed the federal lawsuit against Navient Corp. and two subsidiaries on Wednesday, seeking restitution for affected borrowers and money penalties.
Read more . . .


Wednesday, January 11, 2017

Americans can't afford to lose Richard Cordray or the CFPB


In its five years as an agency, the CFPB has recovered more than $11 billion for 27 million consumers harmed by illegal practices of financial institutions. The bureau has secured relief in more than 100 cases, directly putting money back in the pockets of American consumers who have been victimized by companies that refuse to follow the law.

In just the last three months, the CFPB has stopped Wells Fargo from opening fraudulent accounts without customers’ knowledge, halted three companies from taking advantage of seniors through reverse mortgages sales, and shut down a scam ripping off lead poisoning victims who were being tricked into signing away their legal settlements.

For the first time in history, American consumers have a vigilant watchdog, yet the CFPB’s opponents—Wall Street banks and financial predators—and their allies in Congress have worked nonstop over the past five years to undercut it.

 

http://thehill.
Read more . . .


Tuesday, January 10, 2017

Free Credit Score? Not Necessarily. Credit Bureaus Busted for Deception


Consumers should know there is no completely free place to get your literal FICO credit score. Zero.

But you are entitled to get one free credit report each year from each of the three bureaus at Read more . . .


Monday, January 9, 2017

Wells Fargo Killing Sham Account Suits by Using Arbitration


In congressional hearing rooms and on national television, Wells Fargo has vowed to make things right for the thousands of customers who were given sham accounts.

Read more . . .


Thursday, January 5, 2017

Will Trump Cave to Wall Street Pressure & Fire CFPB Chief in a Nixonian Saturday Night Massacre?


The people who would like to see large banks unleashed, without any meaningful regulation, want Donald Trump to fire Rich Cordray, the terrific director of the Consumer Financial Protection Bureau, or CFPB. Under the law, Trump could only remove Cordray for “inefficiency, neglect of duty, or malfeasance in office.” Banking lobbyists, who are leading the campaign to oust Cordray, say Trump would have reason to do so.

Read more . . .


Wednesday, January 4, 2017

U.S. fines TransUnion, Equifax for deceit over credit scores


A U.S. regulator on Tuesday ordered credit reporting agencies TransUnion and Read more . . .


Tuesday, January 3, 2017

Credit Bureaus Trans Union and Equifax must pay more than $20 million for deceiving consumers in the sale of credit reports


The Consumer Financial Protection Bureau (CFPB) today took action against Equifax, Inc., TransUnion, and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The companies also lured consumers into costly recurring payments for credit-related products with false promises. The CFPB ordered TransUnion and Equifax to truthfully represent the value of the credit scores they provide and the cost of obtaining those credit scores and other services. Between them, TransUnion and Equifax must pay a total of more than $17.
Read more . . .


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