The CFPB said its investigation found that the companies inaccurately reported information for more than 84,000 accounts on a “widespread and systemic basis.”
Lenders will sometimes ask your income when reviewing your loan application — and certainly a higher income may work in your favor — but your credit score doesn’t factor in your salary.
“The typical consumer does not understand what a BEACON score is or know that fewer than 20% of consumers have a BEACON score of 800 or higher.
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.
“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.
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.