The Fair Credit Reporting Act entitles consumers to an annual free credit report from all reporting companies, not just Equifax, Experian and TransUnion. Hundreds of specialty reporting agencies collect information about medical payments, tenant history, check-writing behaviors, … [Read more...]
Financial Watchdog Agency to Monitor Debt Collectors
The Consumer Financial Protection Bureau released its new rules for overseeing debt-collection agencies Oct. 23. Beginning Jan. 2, debt collection firms with more than $10 million in annual revenue will be regulated by the government watchdog agency. Although just 175 firms fall into … [Read more...]
CFPB Proposes CARD Act Amendment to Help Stay-at-Home Moms
The Consumer Financial Protection Bureau announced its proposal to allow stay-at-home spouses and partners easier access to open credit accounts. The rule would consider shared income from a working spouse or partner when applying for a credit card account. … [Read more...]
Discover Ordered to Refund $200 Million to Customers for Selling Products with Deceit
Discover Card may have been voted No. 2 in overall customer satisfaction in the most recent J.D. Power credit card survey, but that didn’t exempt it from penalties enforced by the Consumer Financial Protection Bureau for deceiving customers when marketing card protection products. The … [Read more...]
