New York Consumer Law Blog

Monday, September 17, 2018

D.C. was up in arms over Equifax breach — what happened?


There has been little to no action in Congress that relates to the Equifax data breach or enacting legislation which creates future remedies or legislation designed to prevent such massive data breaches,” said Jim Francis, an attorney at Francis & Mailman, a firm that focuses on consumer protection litigation. 

 

https://www.americanbanker.


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Wednesday, September 12, 2018

Students, families struggle to repay billions in crushing loan debts


Remember, consumers have a right to have accurate information on credit reports, even if related to student loans.  

http://www.
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Tuesday, August 14, 2018

FBI warns banks about potential ATM hacking scheme


The FBI is warning financial institutions that their ATMs could be targeted in a hacking attempt.

The threat was reported Sunday by Krebs On Security, a popular cybersecurity blog run by the journalist Brian Krebs.

Krebs reported that the scheme is known as an "ATM cash-out," which means the attackers can hack a bank or payment card processor and use stolen information to withdraw large sums of money at ATMs worldwide. His report cited a confidential alert the FBI shared with banks last Friday.
Read more . . .


Monday, August 6, 2018

Wells Fargo says hundreds of customers lost homes after computer glitch


Wells Fargo said the computer error affected "certain accounts" that were undergoing the foreclosure process between April 2010 and October 2015, when the issue was corrected.

About 625 customers were incorrectly denied a loan modification or were not offered one even though they were qualified, according to the filing. In about 400 cases, the customers were ultimately foreclosed upon.

https://money.cnn.com/2018/08/04/news/companies/wells-fargo-mortgage-modification/index.html


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Wednesday, August 1, 2018

Wells Fargo has agreed to pay a $2.09 billion fine for issuing mortgage loans it knew contained incorrect income information, the Justice Department announced Wednesday.


This is a developing story. More to come...
Read more . . .


Monday, July 16, 2018

Forty Percent of Americans can't cover a $400 emergency expense


 Credit remains more important than ever.  Be sure your credit reports are accurate -- it's your right under federal (and New York) law.


Monday, June 11, 2018

Credit problems may hinder job search


According to a survey conducted by the Society for Human Resource Management, 60% of private employers check the credit histories of some of their job applicants, and 13% check the histories of all potential hires. 

Read more . . .


Thursday, June 7, 2018

Free credit freezes are coming soon


The new law has a long name – Economic Growth, Regulatory Relief, and Consumer Protection Act – but the outcome is simple. When the law takes effect in September, Read more . . .


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