Equifax Data Breach

Credit Report Errors

Thursday, November 16, 2017

Data Breaches


Data breaches are a common source of identity theft and can devastate your credit score.  Check your credit reports for free at 

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Wednesday, October 4, 2017

Why Equifax will continue to profit by selling your personal information


Equifax’s former CEO is testifying before Congress this week. In spite of the potential for great harm to consumers, industry-insiders expect little regulatory change in the wake of Equifax’s breach. The fact that credit is such an integral piece of the economy, generally—and the degree to which the economy relies upon a functioning credit reporting system—radical changes are unlikely anytime soon.

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Wednesday, September 27, 2017

Liens and Judgments Data: Not Gone for Good


Until recently, mortgage lenders could access the lien and judgment history of potential borrowers through a borrower’s credit report. The national credit reporting agencies (NCRAs), TransUnion, Equifax, and Experian, did such a poor job of keeping reliable records on liens and judgments—Social Security numbers were missing from roughly 50% of tax lien records and 96% of civil judgment records—that they're no longer allowed to provide these services. Mortgage lenders must now obtain information on liens and judgments through more circuitous means, such as title searches.

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Sunday, September 24, 2017

Cuomo Proposes Stricter Regulations for Credit Reporting Agencies


NY Governor, Andrew Cuomo, announces new regulations for credit reporting agencies. Referring to July’s Equifax breach as “a wake-up call,” Cuomo said that NY will hold the credit industry to the same scrutiny as banks and other financial industries who do business in the state. Credit reporting agencies will be required to register with the Dep’t of Financial Services—which will have the authority to sue “if a company fails to comply or engages in prohibited practices deemed unfair, deceptive or predatory.”

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Monday, July 17, 2017

Federal Court Certifies FCRA Class in Dispute Over Content of Disclosures


In Graham v. Pyramid Healthcare Solutions, Inc., 2017 WL 2799928 (M.D. Fl.
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Thursday, July 6, 2017

TransUnion to pay $60 million to consumers flagged as criminals


TransUnion will pay $60 million to consumers it mistakenly labeled as possible terrorists or drug dealers, under an order issued Tuesday by a federal jury.

 The decision stems from a 2012 class-action lawsuit that alleged the credit bureau failed to notify consumers who were reported to lenders as being included on a “blocked persons” list kept by the Treasury Department’s Office of Foreign Assets Control (OFAC). The list includes terrorists, narcotics traffickers, arms dealers and other criminals who are prohibited from doing business in the U.S.

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Monday, July 3, 2017

Sloppy Credit Bureaus, Sketchy Credit Doctors Slammed by Trifecta of CFPB, State AGs, and Consumer Lawyers (3/4)


This is part three of a four-part series that looks at how inaccurate credit reporting is being fought by a attorneys, the CFPB, and state AGs. You may read Part 1 here and Part 2


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Friday, June 30, 2017

Sloppy Credit Bureaus, Sketchy Credit Doctors Slammed by Trifecta of CFPB, State AGs, and Consumer Lawyers (2/4)


This is part two of a four-part series that looks at how inaccurate credit reporting is being fought by a attorneys, the CFPB, and state AGGs. You may read Part 1 here.

On July 1, thanks to the efforts of a bi-partisan, multi-state enforcement effort by 31 state Attorneys-General, 12 million consumers will see their credit scores increase by up to 20 points; 700,000 of them will see increases of as much as 40 points as certain negative public records, including tax liens and court judgements, drop off their credit reports.


Read more . . .


Thursday, June 29, 2017

Sloppy Credit Bureaus, Sketchy Credit Doctors Slammed by Trifecta Of CFPB, State AGs, and Consumer Lawyers (1/4)


This is part one of a four-part series that looks at how inaccurate credit reporting is being fought by a attorneys, the CFPB, and state AGGs.

In the news this month are several successful efforts to improve credit report accuracy, compensate the victims of credit bureau malfeasance and also to bring some credit repair doctors to heel. Did it take a village? No, it took a combination of strong consumer laws, a strong CFPB, tough state attorneys general working on a bi-partisan basis and, finally, consumer attorneys engaged in private enforcement of the laws as another line of defense. For markets to work fairly, consumers need all these levels of protection.

In addition to demonstrating the importance of layered consumer protection and enforcement mechanisms, the cases also show that it is important to regulate the bureaus and hold them accountable, because despite their arrogant disregard for meeting the accuracy and reinvestigation standards of the law, they serve as gatekeepers to financial and employment opportunity.


Read more . . .


Monday, June 26, 2017

Consumers misidentified as terrorists win $60 million verdict


A jury in California last week awarded $60 million in statutory and punitive damages to more than 8,000 consumers who sued TransUnion, one of the three credit reporting agencies.

The consumers filed the class action, claiming that TransUnion violated the Fair Credit Reporting Act (FCRA) when it misidentified them in their credit reports as terrorists and drug traffickers. It turns out the real bad guys had names that were similar to the plaintiffs in the case.

The plaintiffs will each receive more than $7,300 as their share of the award, after they were wrongly identified in their credit reports as being engaged in criminal activity.

The FCRA requires credit reporting agencies to ensure that the information contained in consumers' credit reports is as accurate as possible.
Read more . . .


Sunday, June 4, 2017

CFPB Report Details Problems, New Requirements Consumer Reporting Companies Must Implement


Have you been a victim of ID theft?  Check your credit report for errors at annualcreditreport.com.


Read more . . .


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