New York Consumer Law Blog

Monitoring your credit report is a smart and simple way to be proactive about your finances. Checking your credit report regularly can help you spot fraud early and ensure the correct information is reported to the credit bureaus. 

https://www.
Read more . . .

I enjoyed sitting down for a TV interview this week at the studio for NYC's own legal news show Today's Verdict.  Topic was credit report errors and how consumers can monitor their reports for free via annualcrediterport.com.  

(Also a pleasure meeting and watching the interview of Commissioner Salas of the NYC Department of Consumer Affairs.
Read more . . .

First comes love. Then comes marriage. Then comes many discussions about how you should manage your finances as a couple. Getting married is a big life milestone and a great chance to take stock of your financial situation — that includes your credit cards. 

Read more . . .

For decades, when you applied for an apartment, the landlord—or a tenant screening company hired by the landlord—would examine your credit file and pay stubs to verify your ability to pay rent. But today, landlords are using the artificial intelligence revolution to predict something else: Your willingness to pay rent.

https://www.
Read more . . .

Not much has changed over the years in terms of consumers' challenges in obtaining the same credit score that lenders obtain.  

 Here's an article from 2017 in Forbes highlighting the issue: https://www.forbes.

A separate “mixed file” case against Equifax went to trial in 2013 and ended with a $18.6 million jury award. The sum was reduced to $1.62 million in damages and $300,000 in legal fees during post-trial proceedings.

During that trial, an expert for Equifax testified mixed files could happen in 1% to 2% of all credit files.
Read more . . .

Wonder how a late payment affects consumers differently?  See a sample comparison by FICO.

https://www.cnbc.
Read more . . .

A new credit score will soon factor in consumers’ rent payments and professional licenses to help them get approved for loans.

https://www.wsj.
Read more . . .

When you shop at retailers in-store or online, chances are you’ve been asked at checkout if you want to apply for a store card. They frequently come with tempting offers — sign up and get a huge discount on your purchase — but there are several drawbacks to consider before you apply.

https://www.
Read more . . .

Have you ever found yourself fuming at the credit bureaus? You have plenty of company.

https://www.
Read more . . .

James Rennick was in desperate need of money to help his ailing wife, but an incorrect credit report stood in his way, this lawsuit alleges

https://www.marketwatch.com/story/this-woman-says-equifax-mixed-up-her-fathers-credit-report-and-destroyed-his-life-now-she-hopes-to-convince-a-jury-2019-10-25