“A data security breach that affected Experian’s credit report files would be a terrifying and unmitigated disaster.”
Just 48 percent of millennials are aware of their credit score (compared to 60 percent of Boomers), and only 37 percent of millennials are confident in their ability to manage credit, finds a new report by LoanDepot.
The hacked records contained a consumer applicant’s name, address, Social Security number, date of birth, identification number (typically a driver’s license, military ID, or passport number) and additional information used in T- Mobile’s own credit assessment, Experian said.
On average, Americans have told surveyors they had 40 percent less credit card debt than they actually did, according to a new report from New York Fed researchers.
Employers who use a person’s credit report as a factor in hiring are discriminating against potential hires and unfairly targeting people who may have fallen on hard financial times, according to Democratic lawmakers who want to ban this practice.
Four in five Americans (77 percent) don’t realize that credit accounts with high outstanding balances hurt their credit score — even if they pay the bills on time.
The CFPB saw a 56 percent increase in the number of credit reporting complaints submitted by consumers between June 2015 (4,289 complaints) — and July 2015 (6,969 complaints).
American Express started providing the option to view your FICO score this month. AmEx cardholders will notice the option if they sign-in to the account online.
The national average FICO score is now 695 — the highest it has been in at least a decade, according to the newest analysis from Fair Isaac Corporation, the score’s creator.
About 7 million consumer accounts were affected by Citibank’s “deceptive” marketing, billing, and administration of debt protection and credit monitoring add-on products, the Bureau said.