Category Archives: Legislation

Common Customer Complaints about Credit Reporting Bureaus (Part 2)

In our last post (click here to read part 1), we looked at the dramatic increase in consumers’ complaints against the national credit bureaus, Experian, Equifax, and TransUnion. But, of course, we need to do more than know the number of complaints we need to pay attention to. We also want to examine the types […]

Common Customer Complaints about Credit Reporting Bureaus (Part 1)

By law, the Consumer Financial Protection Bureau (CFPB) issues an annual report analyzing consumers’ complaints made to CFPB. The number of complaints has exploded in recent years, and it’s just a tiny fraction of the complaints made directly to the relevant companies. And it’s worth looking at some of the findings relating to those complaints. […]

What Should You Do If You Have Medical Debt on Your Credit Report? (Part 2)

In our last post —if you haven’t read it yet click here for part 1—, we discussed the credit bureaus’ announcement that they are changing how they will include medical debt on consumers’ credit reports. Industry watchers estimate that these changes will eliminate 70% of medical debt reports. But let’s talk about steps you can […]

Credit Bureaus Will No Longer Report Most Medical Debt

In mid-March, all three major credit bureaus—Equifax, Experian, and TransUnion—announced they would no longer include most medical collection debt on people’s credit reports. This is a major change that should have everyone checking their credit reports. According to the Washington Post, the credit bureaus will be taking steps to change how they report medical debt […]

Study: CFPB complaints shattered records in 2020, exposing how the COVID-19 pandemic battered consumer finances

Credit Report Errors Attorney - COVID-19 Finance Study

Confirmation of President Biden’s nominee Rohit Chopra will pivot agency back to only job: protecting consumers WASHINGTON — Consumer complaints about problems with financial companies such as banks, credit bureaus and debt collectors rose by more than 50 percent in 2020 and set new records for each month of the year, according to a new […]

Major Consumer Protections Announced in Response to COVID-19 *UPDATED WITH CARES ACT*

News to Know Image

https://library.nclc.org/major-consumer-protections-announced-response-covid-19 This article, which will be updated as developments warrant, lists actions Congress, governors, federal and state agencies, and businesses are taking to protect consumers in light of the COVID-19 epidemic. These actions include suspensions on foreclosures, evictions, and terminations of telecommunications and utility service, elimination of interest and forbearance on student loan payments, limits […]

Major Consumer Protections Announced in Response to COVID-19

CARES Act

Fair Credit Reporting CARES Act § 4021 provides less than minimal protections regarding credit reporting. From January 31, 2020 until 120 days after the end of the national state of emergency, if a creditor has made an accommodation (such as a forbearance or workout) for a consumer pursuant to the state of emergency, the creditor […]

What Can You Do With Your Gym Membership If the State Shuts Down Facilities in COVID-19 Emergency Order?

People in a Gym

I spoke with Newsweek yesterday about how the pandemic is affecting consumers with gym memberships.  We primarily help consumers with credit report errors. Unscrupulous gyms that continue to charge consumers — even though the gym has been ordered closed — may need to answer for their reporting inaccurate information to the credit bureaus.  Here’s one […]

Reed & Van Hollen Introduce the Consumer Credit Control Act

Bill

Reed & Van Hollen Introduce the Consumer Credit Control Act WASHINGTON, DC – In an effort to empower consumers and put Americans in control of their personal information and credit reports, U.S. Senators Jack Reed (D-RI) and Chris Van Hollen (D-MD) today introduced the Consumer Credit Control Act.  This bill would amend the Fair Credit Reporting […]