New York Consumer Law Blog

Thursday, February 28, 2019

Maxine Waters proposes consumer-friendly overhaul of credit reporting industry


The heads of the three leading credit reporting companies heard bipartisan criticism as Waters, the veteran Los Angeles Democrat, launched her first major legislative initiative as Read more . . .


Wednesday, February 13, 2019

The Equifax breach affecting nearly half of Americans was “entirely preventable”


The cyber attack at Equifax that compromised data for nearly half of all Americans was the result of rapid growth that boosted company’s share price but left the the consumer credit bureau’s IT systems dangerously exposed to hackers. The massive data breach, which took advantage of known security vulnerabilities, “was entirely preventable,” according to a US House of Representatives Read more . . .


Thursday, February 7, 2019

To Raise Your Credit Score, Start by Understanding It


The nuance in credit scores comes from the elements beyond simply paying what you owe on time, although there is less transparency with these other factors influencing your score. The second-largest part of your score’s makeup belongs to how much you owe.

 https://www.
Read more . . .


Tuesday, February 5, 2019

How To Find Out What's On Your Background Check


A background check isn’t just about criminal records anymore. There are many things that someone could be searching for, from your credit rating to whether you’ve ever been pursued by a debt collector.
 
According to the Consumer Financial Protection Bureau’s Read more . . .


Wednesday, January 30, 2019

Equifax wants judge to reject suits by banks


 

Even the big banks are suing Equifax for identity theft-related costs.  
 
The companies, which are based in 29 states, sued Read more . . .


Friday, January 25, 2019

Data Breach Exposes Millions of Loan Documents Online

More than 24 million financial and banking documents related to mortgages and other consumer loans were leaked online due to a server security lapse.

https://nationalmortgageprofessional.com/news/69821/data-breach-exposes-millions-loan-documents-online


Read more . . .


Thursday, January 24, 2019

Why Big Tech Wants Access to Your Medical Records


Big data expands far beyond credit, housing, and employment reporting.  
 

https://on.wsj.
Read more . . .


Monday, January 7, 2019

USAA to Pay $12 Million in Restitution to Customers, $3.5 Million Fine


Settlement with Consumer Financial Protection Bureau cites failures with preauthorized electronic fund transfers, reopening closed accounts

https://www.
Read more . . .


Monday, December 31, 2018

Wells Fargo to Pay States About $575 Million to Settle Customer Harm Claims


Latest settlement covers retail sales practices and auto-loan, mortgage charges

 

Read more . . .


Friday, December 21, 2018

Stop The Onslaught Of Credit Card Offers


As part of the Fair Credit Reporting Act (FCRA), the credit reporting agencies are allowed to supply lists of consumers to potential creditors. Creditors can filter these lists to target their preferred audience for pre-approval offers. The FRCA allows you to opt-out of those lists, choking off the main source of credit card offers.

To opt-out, go to 


Read more . . .


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