Credit Report Errors

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, 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 . . .


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.


Read more . . .


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


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.


Wednesday, April 11, 2018

Breaches at Lord & Taylor, Saks, & MyFitnessPal

Was your information exposed in the latest data breaches at Lord & Taylor, Saks Fifth Avenue, Saks OFF 5TH, or Under Armour’s MyFitnessPal? If so, here are some steps to take.

 

https://www.consumer.ftc.gov/blog/2018/04/breaches-lord-taylor-saks-myfitnesspal?utm_source=govdelivery


Read more . . .


Friday, January 19, 2018

https://www.cnbc.com/2018/01/18/how-often-you-should-pay-off-your-credit-card-bill.html


"To build credit, what you want to do is have a demonstrated track record of using credit responsibly, and over time different forms of credit," McBride says. "With regard to revolving lines like credit cards, you want to demonstrate the ability to put expenses on the card and then to pay that off."

To demonstrate that ability, it's smarter to focus on not letting your balance exceed more than 10 percent of your credit limit at any given time.

"The 10 percent threshold is the point at which it's beneficial to your credit score," McBride says. "Between 10 and 30 percent it's neutral, and it's only when your balance is above 30 percent of your credit line that it actually works against your score.
Read more . . .


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