New York Consumer Law Blog

Next Thursday, 9/29/16, the Midtown Hilton will be swarming with over four thousand real estate professionals including leaders in the industry.  Come here my brief presentation at 4:30 in the Finance Presentations lineup in the Morgan Suite.  Topic: Client Credit Report Errors: Consumer’s Rights under the FCRA in the Real Estate Context.

 http://www.nycnetworkgroup.
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Should Wells Fargo be forced to pay what it cannot "claw back"? 

Read more here:

http://www.cnbc.com/2016/09/20/its-would-not-be-easy-for-wells-fargo-to-claw-back-banker-pay.html

http://www.cnbc.com/2016/09/20/wells-fargo-has-cut-checks-to-congressional-questioners-campaigns.html

It's a different spin on the system of "checks and balances."

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WINNING ENTRY: Adam G. Singer

WINNER NAME: Zola Creative

AWARD: Read more . . .

From the Washington Post: 

According to the Consumer Financial Protection Bureau, Equifax, Experian and TransUnion, all credit-reporting agencies, are the three most-complained-about companies in America. These companies furnish reports for landlords to examine tenants, for banks to analyze borrowers, for insurance companies to figure out monthly rates and for employers to probe the backgrounds of potential hires — so they wield serious influence over our financial lives and futures.
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"Big data" is real and growing. Know your rights under the Fair Credit Reporting Act and related state statutes. 

http://money.cnn.com/2016/09/06/technology/weapons-of-math-destruction/index.
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What Do Credit Reports Cover?

A great deal of consumer credit and evaluative information is contained in "consumer reports."  These reports -- including but not limited to credit reports -- are covered by the federal Fair Credit Reporting Act (FCRA) as well as by the New York Fair Credit Reporting Act.  Both FCRA statutes give consumers a number of protections regarding the use and accuracy of their data.  Many consumers think that such protections extend only to "typical" credit reports, but in fact there are a broad range of topics that qualify for protection under the FCRA. The statute in 15 U.

Returning an Auto Lease the Right Way

       It’s been one, two, three, or even four or more years since you’ve leased your vehicle. You’ve treated the car well, you’ve never had any accidents, and minus any normal wear and tear on the vehicle, your car is in great condition. Now, however, your lease is over, and it’s time to return the vehicle to the dealership. If you’ve dealt with leases before, you know that the leasing company will hire a contractor that will travel to the dealership and will perform an inspection on your vehicle to check for mechanical problems, such as engine, transmission, or suspension operation; cosmetic damage (dents, dings, scratches, etc.); cracks, pitting, or similar damage on all windows; excessive wear to the brakes and tires; and stains, burns, or other damage to the interior of the vehicle.
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    Most people know that maintaining their credit score in good standing is crucial to their financial health.  After all, their credit score can have a significant impact on key aspects of their financial life. Credit scores can affect a person’s ability to buy a home, car, insurance, and may even affect their ability to obtain employment. Many consumers, however, are unaware that inaccurate credit reports are a common problem . These mistakes often remain uncorrected despite the credit bureaus (consumer reporting agencies or “CRA”) being informed of the error.

What can I do about errors in my credit report?

The Consumer Finance Protection Bureau recently released a study that revealed credit report errors continue to be a serious problem for consumers. The overarching issue is that these errors can adversely affect a consumer's ability to qualify for credit, especially a mortgage loan. In some cases, inaccurate credit report information can also impede an individual's job prospects.