“Regardless of whether they currently own a credit card, 25 percent of Millennials describe credit cards as something that worsens their financial standing,” Facebook said.
The CFPB said its investigation found that the companies inaccurately reported information for more than 84,000 accounts on a “widespread and systemic basis.”
Auto loan balances increased for the 18th straight quarter, this time by $39 billion, and stand at $1.05 trillion as of the end of September.
The national credit score — as measured by the VantageScore formula created by the three credit bureaus — improved by three points over the last year, and by five points…
The credit score for purchase mortgages have hit a record high of about 755.
Consumers’ most frequent complaints were about incurring late fees and credit report problems “due to confusing payment processing schedules and difficulty disputing bill inaccuracies,” the CFPB says.
“Sprint failed to give many consumers required information about why they were placed in a more costly program, and when they did, the notice often came too late for consumers to choose another mobile carrier.”
“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.