New York Consumer Law Blog

Monday, November 26, 2018

On the Mend: Bill Requiring Delayed Reporting of Veterans’ Medical Debts Seeks to Correct Department of Veterans Affairs Payments Errors


As proposed, the Act requires the Secretary of Veterans Affairs to establish a database – not later than one year after enactment – to allow consumer reporting agencies to verify whether a debt furnished to a consumer reporting agency is veteran’s medical debt. 

https://www.natlawreview.
Read more . . .


Wednesday, November 21, 2018

Rubio, Kennedy Introduce Bill To Protect Small Businesses From Security Breaches


Today, U.S. Senators Marco Rubio (R-FL) and John Kennedy (R-LA) introduced the Read more . . .


Tuesday, November 13, 2018

Uber Settles Data Breach Investigation for $148 Million


Uber will pay $148 million to settle a nationwide investigation into a 2016 data breach, in which a hacker managed to gain access to information belonging to 57 million riders and drivers. The breach included names and driver’s license numbers for 600,000 drivers.

The investigation, led by state attorneys general across the United States, focused on whether Uber had violated data breach notification laws by not informing consumers that their information had been compromised.
Read more . . .


Tuesday, November 6, 2018

Stanford Facing FCRA Class Action (Again)


Stanford University is facing a new Fair Credit Reporting Act class action with, potentially, over a thousand class members. And it’s not the first time Stanford has faced these claims.  Notably, this isn’t the first time that Stanford has faced FCRA claims for the disclosures in their application forms. In 2015, Stanford faced precisely the same claims from another employee. Read more . . .


Friday, October 26, 2018

Yahoo might owe you money: It agrees to pay $85 million in data-breach settlement


Yahoo must pay $85 million and provide free credit monitoring to 200 million people as part of a settlement of what is believed to be the biggest data breach ever.

The onetime internet giant, which is now owned by Verizon, has reached a settlement in a class-action lawsuit over the 2013 and 2014 hacks. The company did not disclose the breach, which affected about 1 billion accounts, until 2016. The hacks exposed user names, email addresses, phone numbers, birthdates, scrambled passwords and security questions and answers.

Read more . . .


Wednesday, October 24, 2018

How More Americans Are Getting a Perfect Credit Score


Members of the 850 Club can be broken into two groups. There are the super-knowledgeable tacticians trying to crack scoring algorithms, and the naturally prudent. Some are prepping for a loan. Others are just credit-score hobbyists.
Read more . . .


Tuesday, October 23, 2018

Texas Company Will Pay $3 million to Settle FTC Charges That it Failed to Meet Accuracy Requirements for its Tenant Screening Reports


Mixing of consumers does not just happen on credit reports.  Tenant screening lists (and employment background checks) suffer from the same issues.
Read more . . .


Monday, October 22, 2018

FICO Plans Big Shift in Credit-Score Calculations, Potentially Boosting Millions of Borrowers


Credit scores for decades have been based mostly on borrowers’ payment histories. That is about to change.  

Tuesday, October 16, 2018

How this 54-year-old Alaskan oil worker got a perfect credit score


Only the top 1 or 2 percent of people will have a 'perfect' 850 credit score," Rod Griffin, director of consumer awareness at Experian, tells CNBC Make It. "And it probably won't stay that way. Scores move up and down as your credit history changes. If you increase your balances, open a new account, or have old information fall off your report, your score might slip down or bounce back up.

Read more . . .


Monday, October 15, 2018

Thousands line up for zero-down-payment, subprime mortgages


Borrowers can have low credit scores, but have to go through an education session about the program and submit all necessary documents, from income statements to phone bills.

 https://www.
Read more . . .


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