New York Consumer Law Blog

Friday, September 6, 2019

How to opt out of arbitration for the new Apple Card (and why you’d want to)


Goldman Sachs and Apple have included an arbitration provision in the Apple Card customer agreement. It basically means you can’t join a class action lawsuit against either company, experts said.

Customers can also easily opt-out of arbitration — here’s how you do it. 

Read more . . .


Thursday, September 5, 2019

New Trump Administration Rule Will Look at Immigrants’ Credit Histories


The Trump administration imposed sweeping changes to U.S. immigration policy this week, including letting the government—apparently for the first time—weigh prospective immigrants’ credit history when deciding who gets to come to the U.S. and who gets to stay.
Read more . . .


Wednesday, September 4, 2019

How Do Different Credit Actions Impact Your FICO Scores?


https://blog.myfico.com/credit-actions-affect-fico-scores/

 The way you manage your finances and use credit (both positively and negatively) can impact your FICO® Scores.
Read more . . .


Thursday, August 22, 2019

There are no “quick fixes” to clean up your credit


If you’re trying to clean up your credit, you’ll come across plenty of companies offering an easy fix. But any company promising instant results for a price is likely a scam.

Read more . . .


Wednesday, August 14, 2019

How do Credit Bureaus Get Your Information?


The top three credit bureaus (also known as credit reporting agencies) are Experian, Equifax and TransUnion. When you’re applying for credit, lenders depend on the data provided by these bureaus to make their decision whether or not to lend you money. So where does this data come from in the first place?

https://blog.
Read more . . .


Tuesday, August 13, 2019

Where You Went to College May Matter on Your Loan Application


Despite the growing embrace of such measures, some consumer advocates say the trend will hurt lower-income or minority borrowers. “It entrenches and perpetuates inequality in such an obvious and stark way,” says Chi Chi Wu, an attorney for the National Consumer Law Center, who adds that the existing system already makes it harder for people with lower income and fewer assets to qualify for cheaper loans. 

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Read more . . .


Monday, August 12, 2019

Top 10 Warning Signs of Identity Theft


 
Identity theft occurs when a criminal uses your personal information for their own benefit or to commit fraud.
Read more . . .


Thursday, August 8, 2019

How do FICO scores consider student loan shopping?


The growth of the student loan industry has increased public interest in how lenders assess the credit risk of young college-bound adults. Both large and small lenders often use FICO® credit scores to help them underwrite student loans. How the FICO credit scoring formulas treat credit inquiries depends on the way in which those inquiries are reported by lenders to each of the three credit bureaus.  

 Read more . . .


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