Tag Archive: Reporting

Three Credit Bureaus Agencies, free credit reporting agencies.#Free #credit #reporting #agencies

Information on the 3 National Credit Reporting Agencies or Credit Bureaus

The 3 national credit reporting agencies in the United States are Equifax, Experian, and Trans Union. Experian was formerly known as TRW. A fourth national credit reporting agency named Innovis exists, but does not currently seem to factor into decisions for denials of credit, insurance or employment. It is more in a development stage.

To contact the 3 national credit reporting agencies:

The three national credit agencies may be contacted directly at:

Equifax

TransUnion

Experian

Atlanta, GA 30374

Chester, PA 19022

These national credit agencies are for-profit companies owned by their shareholders. They are not government entities or funded by the government. There are also independent, non-national, local credit bureaus throughout the country that are generally affiliated with one of the 3 national credit reporting agencies. Local bureaus are sometimes for-profit companies and sometimes non-profit associations of lender/members in a particular geographical area.

The 3 national credit reporting agencies are competitors of each other, and they do not normally share their credit information except in special cases. That is why it is important to order a credit report from all three.

Credit agencies or bureaus gather their consumer credit information by soliciting creditors such as credit card companies, banks, and lenders to join their systems and contribute their credit experience on consumers to the systems. In return for submitting information to the systems, creditor members may use the system to obtain credit information on consumers to approve credit decisions or review existing consumer accounts.

Credit agencies are generally regulated by the Fair Credit Reporting Act (FCRA), which is the Federal law generally covering consumer reporting agencies including credit reporting in this country. Individual states may also have their own versions of the law.

Under Federal law credit reporting companies known as CRAs (consumer reporting agencies) have numerous responsibilities to protect consumers and their credit information. A Summary of the FCRA is at http://www.creditreporting.com/fair-credit-reporting-act/index.html .

Opt Out Number For List Sales by the National Credit Reporting Agencies

IN COMPLIANCE WITH THE FAIR CREDIT REPORTING ACT OF 1996.

The credit reporting industry has designated a single toll free number that will allow consumers to opt out of promotional mailing lists sold by credit reporting agencies. The system is an interactive voice mail that requests information necessary to opt out of such lists.

Consumers should call (888) 5 OPT OUT and follow the voice prompt. Once the information is recorded, an e-mail is sent to the three bureaus daily and posted to consumer files. The number is available 24 hours a day.





Credit Agencies To Be More Lenient In Reporting Medical Debt: Shots – Health News: NPR, free credit reporting agencies.#Free #credit #reporting #agencies

Credit Agencies To Ease Up On Medical Debt Reporting

Free credit reporting agencies

Half of all the debt that appears on credit reports is related to medical expenses, according to the Consumer Financial Protection Bureau. PeopleImages/Getty Images hide caption

Half of all the debt that appears on credit reports is related to medical expenses, according to the Consumer Financial Protection Bureau.

Millions of Americans have medical debt that’s hurting their credit. The Consumer Financial Protection Bureau estimated it’s as many as 43 million people, according to data released in late 2014.

Now, some relief may be on the way.

Changes in the way credit agencies report and evaluate medical debt are in the works. They should reduce some of the painful financial consequences of having a health care problem.

Starting Sept. 15, the three major credit reporting agencies — Experian, Equifax and TransUnion — will set a 180-day waiting period before including medical debt on a consumer’s credit report. The six-month period is intended to ensure there’s enough time to resolve disputes with insurers and delays in payment.

In addition, the credit bureaus will remove medical debt from consumers’ credit reports once it’s paid by an insurer. Some credit scoring models don’t penalize paid medical debt from any source.

The changes grew out of two efforts by states to aid consumers: a 2015 settlement negotiated by New York State Attorney General Eric Schneiderman and the three major credit reporting agencies, and an agreement shortly afterward between the agencies and 31 other state attorneys general. The changes will be instituted nationwide.

For many consumers, an unexpected health care calamity can quickly burgeon into a financial calamity. Just over half of all the debt that appears on credit reports is related to medical expenses, the CFPB found in its 2014 study. For 15 million consumers, medical debt was the only blemish on their credit report.

Perhaps this isn’t surprising given the growth in the number of people with high-deductible health plans and significant out-of-pocket financial responsibilities for health care, says Chad Mulvany, policy director at the Healthcare Financial Management Association, a membership organization for finance professionals.

“More people who typically would have been a good credit risk are now saddled with big bills,” he says.

The 180-day waiting period is “a big step forward toward a more equitable process,” says Julie Kalkowski, executive director of the Financial Hope Collaborative at Creighton University in Omaha, Neb., which provides financial education and coaching to low-income, single mothers.

Rather than attempting to collect past-due medical bills themselves, hospitals and doctors’ offices typically engage collection agencies to chase down payments. But the timing on when providers take that step varies widely.

“Without a standardized process, some bills get sent to collections because they’re 30 or 60 days past due, as opposed to six months,” Kalkowski says, citing several of the women who went through the Creighton program. The total amount owed in most cases was under $150, she says.

In fact, the average amount of medical debt in collections was $579, compared with $1,000 for non-medical debt, the CFPB found in its study. But even small amounts of debt can lead to credit problems. A bad credit score can prevent someone from getting a car loan, credit card or a mortgage, for example.

Lenders use credit reports and credit scores to evaluate the risk that someone won’t repay a loan. The credit-scoring companies build algorithms that use the data in people’s credit reports to assign a three-digit credit score, typically between 300 and 850, that summarizes someone’s credit risk based on the information in a credit report at that time. Higher scores indicate lower risk.

Credit-scoring companies like FICO and VantageScore have been adjusting their formulas to account for the fact that medical debt isn’t necessarily an accurate predictor of whether someone is a good credit risk.

“Those with medical accounts are less likely to default on their accounts than non-medical accounts,” says Ethan Dornhelm, vice president of scores and analytics at FICO.

To address this issue, newer FICO and VantageScore models differentiate between medical and non-medical debt. People with medical debt in collections receive a smaller penalty than those with non-medical collections, says Sarah Davies, senior vice president at VantageScore Solutions.

Under FICO9, the newest model, someone whose only major credit blot is one or more medical collections would see their median score improve roughly 25 points over older versions, says FICO’s Dornhelm.

But there’s a catch: Many banks and other lenders haven’t yet adopted the newer versions of the credit-scoring models. So even though medical debt shouldn’t have as strong an impact on someone’s credit score now, in many cases it still could.

What’s a consumer to do? You can’t control which scoring model a lender uses, but you can check your credit report regularly to make sure it’s accurate. Consumers are entitled to a free credit report from each credit reporting company annually.

“If there’s medical debt that’s been paid, it should be removed going forward, and if it’s less than six months old, find out when it’s going to be removed,” advises VantageScore’s Davies.

Kaiser Health News is an editorially independent news service that is part of the nonpartisan Henry J. Kaiser Family Foundation. Follow Michelle Andrews on Twitter @mandrews110.





3 Ways to Get Your Credit Report for Free, free credit reporting agencies.#Free #credit #reporting #agencies

How to Get Your Credit Report for Free

Your credit report include information on your address, the number of credit accounts you have, whether you pay your bills on time, and whether you have been sued or filed from bankruptcy. Lenders use it when determining whether to lend to you and at what rates. The United States Federal Trade Commission (FTC) recommends that you check your credit report at least once a year to prevent identity theft and to make sure your information is being accurately reported. [1] Under the Fair Credit Reporting Act (FCRA), you are legally entitled to at least one report every 12 months from each of the three major credit bureaus, and the process to obtain them – whether online or by mail – is quick and easy.

Edit Steps

Edit Method One of Three:

Getting Your Credit Report

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies

Edit Method Two of Three:

Understanding Your Credit Report

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies

Free credit reporting agencies





Credit Report – Check Your Credit Rating or Score Today, the three credit reporting agencies.#The #three #credit #reporting #agencies

The three credit reporting agenciesMoneySuperMarket.com

Primary Navigation

Do you know what your credit score is? Find out your credit rating and keep track of any changes to it. Not only will this improve your chances of being accepted for a credit card or loan, but you ll also be able to spot any suspicious activity on your credit file.

The three credit reporting agencies

Credit Reports, Monitoring & Identity Theft Protection

    • Provider/Product name The three credit reporting agencies

Experian CreditExpert

£14.99 per month

Unlimited access to your Experian Credit Score and credit report

Expert advice to help improve your Experian credit score

The UK’s most trusted Credit Score (Source: ICMUnlimited survey, July 2016)

Access to an award-winning UK Customer Contact Centre and dedicated Victim of Fraud Team

Equifax

£14.95 per month

– 30 day FREE trial

– Unlimited, easy online access to your latest Equifax Credit Report Score

– Identity protection Be alerted if we find your details are shared on websites used by fraudsters

– Telephone support 8am 8pm daily (except 25th 26th December)

– Online help and dispute resolution

Credit Angel

£14.99 per month

Easy to use site with unlimited FREE access to your credit score and report for 30 days

See how your social media activity can affect your ability to gain credit

Credit and Fraud alerts

Tailored finance deals, savings and vouchers

Comprehensive support from Credit Angel’s expert Customer Care Team

Credit report

You can boost your chances of being accepted for a credit card or loan by finding out your credit score first. Knowledge is power, so being in the know by being party to the same information as the lender, will place you in a much stronger position.

Are you aware of what sort of information is held on your credit file? Unless you regularly check your file, the chances are you don t know, but finding out can help you work out the best ways to improve your rating.

The information held on your credit file helps lenders to decide whether or not they will accept your credit card, mortgage, loan or even mobile phone contract application.

If you know you ve made a few financial slip ups in the past and your credit score could be better, or you ve never borrowed and so haven t yet built up a credit history in the first place, there are steps you can take to improve your rating so you are more likely to be accepted if you want to take out a loan or apply for a credit card.

Are you on the electoral roll?

If you have registered to vote, then you should already be on the electoral roll at your current address. The electoral roll is used by many companies to check you are who you say you are, so they can ensure someone else isn t using your identity fraudulently to make credit applications in your name. If you’re not registered on the electoral roll, you ll need to get in touch with your local council and request a registration form, or alternatively you can register online.

Are you already a borrower?

It might sound odd, but if you ve never borrowed money before, lenders are likely to see this as a negative. They want to know that you can manage your money responsibly, and if you have never borrowed, this cannot be demonstrated. If you haven t ever had a credit card or loan, it may therefore be worth opening an account in order to create a credit history but make sure you repay what you owe and on time, otherwise you could end up with a black mark on your credit file.

Check your credit rating

Are you certain that the information held about you is absolutely right? It is worth checking your file to make sure that it does not contain details that are wrong and could restrict your chances of being accepted credit. You can get a copy of your credit report at our credit monitoring service. And if you find any inaccuracies you can apply to the relevant agency to get them changed.

County Court Judgments (CCJs)

If you’ve had a County Court Judgement against you which has now been settled, make sure this is recorded on your credit file, as having one which hasn t yet been settled can have a very negative impact on your credit rating. If your CCJ isn t showing up as being settled, ask the court to provide confirmation details and pass these on to the credit rating agencies.

Don t make repeated applications

If you are turned down for credit, don t be tempted to make lots of other applications elsewhere. These will leave a footprint on your credit file which could work against you as lenders might think you are desperate to borrow money, or that you are victim of identity fraud. Before making any credit application, get hold of a copy of your report so you know how strong your credit rating is, and only make applications for deals you are confident you will be accepted for.

Change of circumstances

If your personal situation has changed, for example, you ve got divorced or lost your job, and you are finding it difficult to make ends meet, you must let lenders know as soon as possible. You can put a Notice of Correction on your credit file explaining why you might have missed any payments. Lenders should take this into consideration when you make a credit application, particularly if you are able to show you have subsequently got back on track financially.

Keep borrowing in check

Don t max out your credit card. If you owe money on your card, you should try and ensure it isn t more than a third of your overall credit limit. If you often own much more than this, then lenders might start to worry about lending you any more money as they will be concerned you might not be able to keep up with repayments.

Pay on time

Make sure payments go out on time by setting up direct debits and standing orders wherever possible. It’s easy to forget a payment so setting up direct debits and standing orders with your bank will ensure payments go out on time. This will also ensure you won t be stung by any penalty charges or fees for paying late, which could have a negative impact on your credit rating.

Shut down credit accounts you no longer use

If you ve got credit cards or other credit accounts which you don t need any more, shut them down as soon as possible. When lenders look at your credit file, they focus on the total amount of credit available to you, as opposed to the amount you actually owe, so having lots of open accounts could reduce your credit rating.

Pay on time

Missing or late loan or credit card repayments will work against you and leave a black mark on your credit file. Make sure you always pay on time as this will show lenders that you are good at managing your money.

Other factors which can have an impact

As well as looking carefully at your credit history, when you apply for credit lenders will also want to check how long you have been a UK resident. If you have only recently moved here, you may have to wait at least three months before you apply for a credit card. You may also have to show proof of your income and provide evidence of employment.

How our site works

We want to show you as many credit reporting companies as possible, so you can choose the one that suits you best. We can t promise to show you every single company, because some don t want to be included on comparison websites. We ve ranked the companies according to the fee they pay us, from highest to lowest. This doesn t necessarily mean that the company at the top of the list is the best one for you make sure you compare them to find the one that suits you best. You can find out more about how we work here.





Online Credit Reports, 3 Credit Scores, credit reporting.#Credit #reporting

All About Credit Reporting –

Including All 3 credit Bureaus

Credit reporting

Credit reportingCredit reportingCredit reporting

This is the best customer service I have received in a long time! Thank you for your efforts and for following up with me.

Marion from Southern California

CreditReporting.com has been an important part of my yearly credit report maintenance. They make it so easy to order credit reports!

I like the fact that I can get all 3 credit bureaus in one report – in one easy piece and with an easy application process.

Mike from Shady Grove

Credit reporting I think that it is nice to have somewhere to go to get all 3 reports to check yourself out.

Marita from Ft. Worth

It’s Fast. as consumers, you can get your own 3 bureau credit report and 3 personal credit scores delivered online over a secured server connection. Then print them if you desire.

Get Your 3-Bureau Credit Report and 3 Credit Scores with PRIVACY GUARD. and in addition to your scores, you will participate in daily credit monitoring of your credit reports from the three national credit bureaus Experian, Equifax and TransUnion. Plus your membership will include monthly updates to your credit data and your scores. Plus you will have toll free customer support with access to credit education specialists. Order PrivacyGuard Today! We think you will like it.

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CreditReporting.com – How Can We Help You?

At CreditReporting.com we help people understand the credit reporting process including how to obtain their credit reports and scores from all three national credit bureaus – Experian, Equifax, and Trans Union.

  • Provide comprehensive information to consumers to understand credit reporting and its related topics.
  • Feature the best products for consumers to obtain their credit reports, credit scores and credit monitoring online.
  • Provide enough information on the site to answer the most common credit reporting questions.
  • if we do not have the right answer for you, or you still do not understand a particular issue, contact us and we will do our best to point you in the right direction to obtain the information you need and the answers you seek.

Click below for more information on these general areas:

Credit Reports – The basis for most credit decisions, learn more about them here, including getting your free annual credit report.

Credit Scores – It’s just a number, but it is very important to get it as high as you can if you are to get the best loans and terms.

Credit Bureaus – Contact info and other important stuff about the credit companies, including the three national bureaus Equifax, Experian and TransUnion.

Credit Laws – Know your rights plus learn the obligations of the companies keeping and using your data.

Identity Theft – Anyone can be vulnerable to identity theft. Protect yourself, especially as data breaches become more and more common.

5 Ways to Improve Your Credit Scores – This may be obvious to some, but these simple rules are the basis for good scores.

– Pay your bills on time

– Keep your credit balances low

– Minimize applying for new credit

– Keep your credit report accurate

– Get your 3 credit reports

– Dispute inaccurate items in writing

– Dispute at all 3 bureaus

– Follow-up to make sure reports are correct

– Try credit monitoring for alerts of key changes





Consumer Data Industry Association – Metro 2 – Metro 2® Format for Credit Reporting, credit reporting companies.#Credit #reporting #companies

Metro 2® Format for Credit Reporting

Download Instructions for the Metro 2 Format

If your company furnishes consumer credit account data on a regular basis to credit reporting agencies, you have duties under the Fair Credit Reporting Act (FCRA) to correct and update that consumer credit history information.

To assist data furnishers (such as banks, credit unions, consumer credit card companies, retailers, and auto finance companies) in this process, the credit reporting industry has adopted a standard electronic data reporting format called the Metro 2 Format.

Access to the Metro 2 Format is limited to employees of (a) companies that furnish data to consumer reporting agencies in either the MetroTM or Metro 2 Format, (b) data processors who furnish data to consumer reporting agencies in either the MetroTM or Metro 2 Format, (c) software vendors who provide MetroTM or Metro 2 programming software, and (d) consumer reporting agencies that accept or transmit data in the MetroTM or Metro 2 Format.

To access the Metro 2 Format you must log in to your CDIA account. If you are not a registered user you will need to first create a CDIA account. For additional guidance on accessing your CDIA account, please visit FAQ2 and FAQ3 in the CDIA Account Access Guide.

After you are logged in, follow the steps below:

  • If CDIA recognizes your login as a Metro 2 approved user you will be brought to the Metro 2 Access Agreement. Review the agreement and select I Accept . You will be given immediate access to the Metro 2 Format documents. In the future you may return to the Metro 2 documents by logging in to your CDIA account and clicking on Metro 2 Access on the My Account dashboard page.

  • If CDIA does not recognize your login as being a Metro 2 approved user you will be brought to the No Access page.
    • Review the Metro 2 Access Policy and select Continue
    • Follow the instructions on how to download the Metro 2 Format by calling one of the listed phone numbers to obtain a one-time username and password.
    • Enter the one-time username and password to log in.
    • Carefully read and accept the Metro 2 Access Agreement for immediate access to the Metro 2 Format documents.
    • In the future you may return to the Metro 2 documents by logging into your CDIA account and clicking on Metro 2 Access on the My Account dashboard page.
  • Special Note to Software Vendors

    CDIA strongly recommends all software vendors to beta test a sampling of your customers’ data with each consumer reporting agency prior to mass distribution of software to ensure Metro 2 standards have been met. Refer to the Implementation Checklist in the Credit Reporting Resource Guide ; section 8, for details.

    Thorough testing of your software version of the Metro 2 Format prevents costly changes, redistribution of your software and customer delays in reporting.

    If you have any questions regarding the Metro 2 Format, contact your consumer reporting agency contacts.





    A Layman s Guide to Fair Credit Reporting Act (FCRA) – Credit Reporting, credit reporting companies.#Credit #reporting #companies

    Layman’s Guide to the Fair Credit Reporting Act (FCRA) by section:

    go to Section 605B.

  • Section 606В – One of the main point of this section on investigate consumer reports, like employment reports, is that there are required disclosures that must be made to consumers — go to Section 606.
  • Section 607В – Compliance section, which means that CRA’s must maintain reasonable procedures to avoid violating Section 604 and 605 of the Act, such as providing obsolete information or furnishing reports for non permitted purposes — go to Section 607.
  • Section 608В – When a government agency can see your report and what they can see — go to Section 608.
  • Section 609В – What must be disclosed to consumers upon request — go to Section 609.
  • Section 610В – To obtain your own report, consumers must provide identification, and disclosures must generally be in writing — go to Section 610.
  • Section 611В – Procedures when the consumer disputes the accuracy or completeness of an item in their file — go to Section 611.
  • Section 612В – Not all credit reports are free, some may incur a fee — go to Section 612.
  • Section 613В – CRA’s must be careful about furnishing public records for employment reports — go to Section 613.
  • Section 614В – Talks about investigative consumer reports and using information from an old report — go to Section 614.
  • Section 615В – Users and others who obtain consumer reports have important responsibilities — go to Section 615.
  • Section 616В – Dollar liability for those who willfully violate the Act — go to Section 616.
  • Section 617В – Liability for those who are negligent in failing to comply with the Act — Section 617.
  • Section 618В – Bring actions in US district courts within a specified time frame — go to Section 618.
  • Section 619В – Fines and potential imprisonment for obtaining information under false pretenses — go to Section 619.
  • Section 620В – Fines and potential imprisonment for the officers and employees of the CRA — go to Section 620.
  • Section 621В – The Federal Trade Commission is the main enforcer of the Act — Section 621.
  • Section 622В – Requirements regarding the reporting of overdue child support — go to Section 622.
  • Section 623В – Companies that report your credit information have important responsibilities — Section 623.
  • Section 624В – Governs affiliates who may have access to the report for marketing etc. — go to Section 624.
  • Section 625В – Does not exempt state laws except to extent state law is inconsistent with this law — go to Section 625.
  • Section 626В – The FBI has special rights to see your file — go to Section 626.
  • Section 627В – Counterterrorism has special rights to see your file — go to Section 627.
  • Section 628В – Properly dispose of consumer information to protect the confidentiality of the information — go to Section 628.
  • Section 629В – Prevents consumer reporting agencies from circumventing the law — Section 629.
  • The Fair Credit Reporting Act (FCRA) is designed to help ensure that CRAs (Consumer Reporting Agencies, including credit bureaus and credit reporting companies) furnish correct and complete information to businesses to use when evaluating your application for credit, or insurance, or to employers or prospective employers.

    Your rights under the Fair Credit Reporting Act include:

    • You have the right to receive a copy of your credit report. The copy of your report must contain all of the information in your file at the time of your request.
    • If you contest the completeness or accuracy of information in your report, you may file a dispute with the CRA and with the company that furnished the information to the CRA. Genrally both the CRA and the furnisher of information are legally obligated to reinvestigate your dispute as long as it is not frivolous.
    • CRA’s must correct or remove inaccurate, incomplete or unverifiable information in their files. CRA’s must remove obsolete information in their files.
    • If you are a victim of identity theft or are on active duty with the militar, you have more rights under the FCRA.
    • Only those with a permitted purpose or with your express permission may access your file.
    • Generally employers must have your express written permision to obtain your report.
    • Any company that denies your application, or takes an adverse action against you, based on information obtained from a CRA, must inform you of the adverse action and must supply you with the name and address of the CRA they used.
    • You have the right to a free copy of your credit report in numerous instances including when your application for credit or employment is adversely affected because of information supplied by the CRA. You can get a free credit report each year in any case.
    • You may opt-out of lists provided by the national credit bureaus that are based on your credit file.
    • You may sue under the FCRA for violations of the Act.
    • Credit scores are available to you on request from from mortgage credit agencies and sometimes from mortgage lenders. There may be a fee for the score.




    New York governor wants credit-reporting firms to follow cyber rules, Reuters, credit reporting companies.#Credit #reporting #companies

    New York governor wants credit-reporting firms to follow cyber rules

    WASHINGTON/NEW YORK (Reuters) – New York Governor Andrew Cuomo said on Monday that he wants credit-reporting firms to comply with the state s cyber-security regulations, the latest government official to crack down on the industry in the wake of the massive Equifax hack.

    Also on Monday, Bloomberg News reported that federal authorities have opened a criminal probe into stock sales by three Equifax Inc ( EFX.N ) executives before the company disclosed the massive data breach, news that has weighed heavily on the stock price.

    The company has said the executives were unaware of the hack when they sold the stock for $1.8 million.

    Equifax s legal woes worsened as the U.S Attorney s office in Atlanta issued a statement saying it was working with the FBI on a criminal investigation into the breach and theft of personal information.

    Equifax shares rose 1.5 percent on Monday after losing about a third of their value since the hack was announced. The Equifax breach discovered on July 29 exposed sensitive data like Social Security numbers of up to 143 million people.

    Cuomo said he planned to require all credit-reporting agencies to register with the state and comply with its cyber-security rules.

    The proposed regulation would take effect in February, Cuomo said in a statement. If the companies do not register, they risk being barred from doing business with financial companies regulated by New York state.

    The state would be able to bar credit-reporting agencies, including TransUnion ( TRU.N ) and Experian Plc ( EXPN.L ), as well as Equifax, from doing business in New York if the state found they engaged in unfair, deceptive or predatory practices, Cuomo said.

    The Equifax breach was a wake-up call, Cuomo said. And with this action, New York is raising the bar for consumer protections that we hope will be replicated across the nation.

    Proposed regulations are typically subject to a period for public comment before they become final.

    A New York state cyber-security regulation, the first of its kind in the United States, took effect on March 1. It requires financial firms to take measures to protect networks and customer data from hackers and disclose cyber events to regulators.

    Maine is the only U.S. state that requires credit agencies to register, said William Lund, superintendent of the Maine Bureau of Consumer Credit Protection. But its law does not cover cyber security, an issue the bureau will have to consider, Lund said.

    Maine, which has been registering credit-reporting agencies since the 1990s, has 30 such agencies on its roster, ranging from the largest to those dealing with everything from check approval to tenants rental histories, he added.

    The three credit-reporting agencies did not respond to requests for comment on Cuomo s plan.

    Bloomberg reported on Monday that the U.S. Justice Department is investigating whether Equifax s chief financial officer, John Gamble, and two other executives broke insider-trading rules by selling stock after the breach was discovered in July and weeks before it was disclosed this month.

    Reuters was not able to confirm the Bloomberg report.

    Separately, the company issued a statement saying a second Bloomberg report late on Monday about a second cyber attack in March referred to a breach at Equifax payroll unit that was previously reported to regulators, customers and consumers and also been covered by the press.

    Equifax complied fully with all consumer notification requirements related to the March incident. The two events are not related, the statement said.

    Reporting by Diane Bartz and Suzanne Barlyn; Additional reporting by Sarah N. Lynch, David Shepardson and Dustin Volz; Editing by Jim Finkle, Leslie Adler and Michael Perry





    Here – s Why I Hate Credit Reporting Agencies, what are the three credit reporting agencies.#What #are #the #three #credit #reporting #agencies

    Here s Why I Hate Credit Reporting Agencies — And Why You Should Too

    A few days ago, Equifax, one of the Big Three credit reporting agencies, admitted that the personal data of 143 million consumers had been compromised. This is not the biggest data breach ever, but it might be the worst. After all, Equifax is not just any company. It s a company whose main job is collecting masses of private financial data—and it does this even though it has neither a business relationship nor explicit permission from the people it monitors. This is a massive and unprecedented FUBAR.

    (For more on why the Equifax breach is even worse than you think, Michael Hiltzik explains here.)

    What are the three credit reporting agencies

    I am no fan of the credit reporting business, one of the most arrogant and anti-consumer industries imaginable. Twelve years ago I wrote about them for the Washington Monthly, and it s startling how little has changed since then. I could republish the story today with only the most cursory changes.

    For example, part of my piece was devoted to credit freezes, something you may have heard a lot about lately. This is an action you can take to protect yourself in case of identify theft: if you ask for your account to be frozen, credit agencies will furnish a credit report only after they ve confirmed that it really is you who applied for credit. This stops identity thieves in their tracks: if they apply for a credit card in your name, the credit agency will call you first. When you tell them you never applied for the card, it doesn t get issued.

    But this really shouldn t be an option you have to request. It should be routine for all credit transactions. The reason it isn t is because it s inconvenient for the credit reporting agencies, who have fought regulation on this topic tooth and nail. It s also because they literally make money on identify theft—no, that s not a typo—and therefore don t have much incentive to do anything about it.

    Still, as much as I think all accounts should be frozen by default, my solution to the problem of identity theft isn t to force the credit reporting agencies to freeze or unfreeze accounts—or to force them to do anything else. It s to make them responsible for all damages related to identity theft and then let them figure out the best solution. Here s what I wrote in my Monthly piece:

    There is a successful precedent for this type of approach. In 1968, Congress passed the Truth in Lending Act, which imposed a variety of regulations on the lending industry. One notably simple provision was that consumers could be held liable for no more than $50 if their credit cards were stolen and used without their authorization. For anything above that, it was the credit-card issuer who had to pay. The result was predictable: Credit-card companies have since taken it upon themselves to develop a wide range ofeffective anti-fraud programs. Congress didn t tell them to do it, or even how. It just made them responsible for the losses, and the card issuers did the rest themselves.

    The same method should be used for identity theft. There s no need to create mountains of regulations, which are uniformly despised by the credit industry. Instead, simply make the industry itself—and any institution that handles personal data—liable for the losses in both time and money currently borne by consumers. The responsible parties will do the rest themselves.

    There s more to say about this, but sadly, my piece is no longer available at the Monthly site. The great linkrot plague has devoured it. Luckily, I m a magazine packrat and I still have a dead-tree copy. So I scanned it and turned it into a PDF. Click here to read it—and to find out just why I hate the credit reporting agencies so intensely. It s worth your time, especially considering how little has been done about this over the past decade. It represents one of the all-time abject surrenders to Big Finance, and it s something the Elizabeth Warren wing of the Democratic Party should be all over. The time for small-bore proposals is over. It s time to make the credit agencies—and others—pay for their flagrantly careless behavior. When they allow someone to steal your identity, they re the ones who should pay the price, not you.

    UPDATE: The Wayback Machine also has a copy of my article. I shoulda checked! Click here to see it.

    Get the scoop, straight from Mother Jones.
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    • Next: Chart of the Day: Household Income Finally Beats 1999 Record
    • What are the three credit reporting agencies





    Online Credit Reports, 3 Credit Scores, free credit reporting.#Free #credit #reporting

    All About Credit Reporting –

    Including All 3 credit Bureaus

    Free credit reporting

    Free credit reportingFree credit reportingFree credit reporting

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    Marion from Southern California

    CreditReporting.com has been an important part of my yearly credit report maintenance. They make it so easy to order credit reports!

    I like the fact that I can get all 3 credit bureaus in one report – in one easy piece and with an easy application process.

    Mike from Shady Grove

    Free credit reporting I think that it is nice to have somewhere to go to get all 3 reports to check yourself out.

    Marita from Ft. Worth

    It’s Fast. as consumers, you can get your own 3 bureau credit report and 3 personal credit scores delivered online over a secured server connection. Then print them if you desire.

    Get Your 3-Bureau Credit Report and 3 Credit Scores with PRIVACY GUARD. and in addition to your scores, you will participate in daily credit monitoring of your credit reports from the three national credit bureaus Experian, Equifax and TransUnion. Plus your membership will include monthly updates to your credit data and your scores. Plus you will have toll free customer support with access to credit education specialists. Order PrivacyGuard Today! We think you will like it.

    ______________________________________________________________________________________________

    CreditReporting.com – How Can We Help You?

    At CreditReporting.com we help people understand the credit reporting process including how to obtain their credit reports and scores from all three national credit bureaus – Experian, Equifax, and Trans Union.

    • Provide comprehensive information to consumers to understand credit reporting and its related topics.
    • Feature the best products for consumers to obtain their credit reports, credit scores and credit monitoring online.
    • Provide enough information on the site to answer the most common credit reporting questions.
    • if we do not have the right answer for you, or you still do not understand a particular issue, contact us and we will do our best to point you in the right direction to obtain the information you need and the answers you seek.

    Click below for more information on these general areas:

    Credit Reports – The basis for most credit decisions, learn more about them here, including getting your free annual credit report.

    Credit Scores – It’s just a number, but it is very important to get it as high as you can if you are to get the best loans and terms.

    Credit Bureaus – Contact info and other important stuff about the credit companies, including the three national bureaus Equifax, Experian and TransUnion.

    Credit Laws – Know your rights plus learn the obligations of the companies keeping and using your data.

    Identity Theft – Anyone can be vulnerable to identity theft. Protect yourself, especially as data breaches become more and more common.

    5 Ways to Improve Your Credit Scores – This may be obvious to some, but these simple rules are the basis for good scores.

    – Pay your bills on time

    – Keep your credit balances low

    – Minimize applying for new credit

    – Keep your credit report accurate

    – Get your 3 credit reports

    – Dispute inaccurate items in writing

    – Dispute at all 3 bureaus

    – Follow-up to make sure reports are correct

    – Try credit monitoring for alerts of key changes





    Who Are the Three Major Credit Bureaus, credit reporting agencies.#Credit #reporting #agencies

    Who Are the Three Major Credit Bureaus?

    Credit reporting agencies

    Credit bureaus, also called credit reporting agencies, are companies that collect and maintain consumer credit information then resell it to other businesses in the form of a credit report.

    There are many credit bureaus in the United States, but most people are familiar with the big three: Equifax, Experian, and TransUnion. These bureaus are all publicly-traded, for-profit companies who are not owned by the government.

    The government does, however, have legislation, the Fair Credit Reporting Act, regarding how these and other credit bureaus should operate.

    Credit bureaus have business relationships with many banks, credit card issuers, and other businesses that you may have an account with. Because of this connection, your account history will appear on one or all three of your credit reports with these bureaus.

    You have a right to view your credit report and you can order a free credit report from each of the three major credit bureaus each year through AnnualCreditReport.com. You can also purchase a credit report directly from any of the credit bureaus at any time. Two of the credit bureaus, Equifax and Experian, offer 3-bureau credit reports which include all three major credit reports in a single document.

    You may also need to contact a credit bureau directly to dispute inaccurate information in your credit report, purchase a credit score, or to place a fraud alert or security freeze on your credit report.

    Otherwise, you generally wouldn t interact with a credit bureau, even though they play a major role in your financial life.

    Contact Information For the Three Credit Bureaus

    Atlanta, GA 30374-0241

    Allen, TX 75013-0949

    Chester, PA 19022

    What the Three Bureaus Do and Don t Do

    The major credit bureaus receive credit-related information from companies that you do business with. They may also pull relevant public records, like tax lien or bankruptcy, and include that information in your credit report.

    The major credit bureaus sell your credit information to businesses who have a legally valid need for viewing your credit information. Your information is also sold to companies who may prescreen you for their products and services. For example, a company who you ve applied for credit with would have a valid need for looking at your credit report.

    The major credit bureaus only provide the information or other analytical tools to help businesses make decisions about which customers to accept and the price they should charge. The bureaus themselves do not make the decision.

    Credit Bureau Differences

    These three credit bureaus, like all other credit bureaus, are separate entities and operate independently of each other. They generally do not share your account information with each other.

    Your creditors may report to all three of the major credit bureaus or just one of them.

    Because of that, the information in your credit file may be different between the three credit bureaus.

    When potential creditors and lenders check your credit, they may only pull one bureau s credit report, rather than viewing all three. (It s often less expensive for businesses to check just one credit report.)

    Because your credit reports may be different from each other, it s important that you review your reports from all three bureaus.

    FICO Is Not a Credit Bureau

    FICO is another major company in the credit industry. FICO developed and maintains the FICO credit score, but it is not a credit bureau. While they compile your credit score based on data from the major credit bureaus, they do not collect credit report data on their own.

    Ready to start building wealth? Sign up today to learn how to save for an early retirement, tackle your debt, and grow your net worth.





    Three Credit Bureaus Agencies, credit reporting agencies.#Credit #reporting #agencies

    Information on the 3 National Credit Reporting Agencies or Credit Bureaus

    The 3 national credit reporting agencies in the United States are Equifax, Experian, and Trans Union. Experian was formerly known as TRW. A fourth national credit reporting agency named Innovis exists, but does not currently seem to factor into decisions for denials of credit, insurance or employment. It is more in a development stage.

    To contact the 3 national credit reporting agencies:

    The three national credit agencies may be contacted directly at:

    Equifax

    TransUnion

    Experian

    Atlanta, GA 30374

    Chester, PA 19022

    These national credit agencies are for-profit companies owned by their shareholders. They are not government entities or funded by the government. There are also independent, non-national, local credit bureaus throughout the country that are generally affiliated with one of the 3 national credit reporting agencies. Local bureaus are sometimes for-profit companies and sometimes non-profit associations of lender/members in a particular geographical area.

    The 3 national credit reporting agencies are competitors of each other, and they do not normally share their credit information except in special cases. That is why it is important to order a credit report from all three.

    Credit agencies or bureaus gather their consumer credit information by soliciting creditors such as credit card companies, banks, and lenders to join their systems and contribute their credit experience on consumers to the systems. In return for submitting information to the systems, creditor members may use the system to obtain credit information on consumers to approve credit decisions or review existing consumer accounts.

    Credit agencies are generally regulated by the Fair Credit Reporting Act (FCRA), which is the Federal law generally covering consumer reporting agencies including credit reporting in this country. Individual states may also have their own versions of the law.

    Under Federal law credit reporting companies known as CRAs (consumer reporting agencies) have numerous responsibilities to protect consumers and their credit information. A Summary of the FCRA is at http://www.creditreporting.com/fair-credit-reporting-act/index.html .

    Opt Out Number For List Sales by the National Credit Reporting Agencies

    IN COMPLIANCE WITH THE FAIR CREDIT REPORTING ACT OF 1996.

    The credit reporting industry has designated a single toll free number that will allow consumers to opt out of promotional mailing lists sold by credit reporting agencies. The system is an interactive voice mail that requests information necessary to opt out of such lists.

    Consumers should call (888) 5 OPT OUT and follow the voice prompt. Once the information is recorded, an e-mail is sent to the three bureaus daily and posted to consumer files. The number is available 24 hours a day.





    Credit reporting firm Equifax says cybersecurity incident could potentially affect 143 million US consumers, credit reporting agency.#Credit #reporting #agency

    Credit reporting firm Equifax says data breach could potentially affect 143 million US consumers

    Credit reporting agency

    Equifax, which supplies credit information and other information services, said Thursday that a data breach could potentially affect 143 million consumers in the United States.

    The population of the U.S. was about 324 million in 2017, according to Census Bureau estimates, which means the Equifax incident affects a huge portion of the country.

    Equifax said it discovered the breach on July 29. “Criminals exploited a U.S. website application vulnerability to gain access to certain files,” the company said.

    SEC filings show that three Equifax executives – Chief Financial Officer John Gamble Jr., workforce solutions president Rodolfo Ploder and U.S. information solutions president Joseph Loughran – sold nearly $2 million in shares in the company days after the cyberattack was discovered. It was unclear whether their share sales had anything to do with the breach.

    Equifax said in a statement that the three executives sold a “small percentage” of their shares on Tuesday, August 1, and Wednesday, August 2, adding they “had no knowledge that an intrusion had occurred at the time they sold their shares.”

    The SEC declined to comment on the share sales.

    Shares of Equifax fell more than 12 percent in after-hours trading.

    The company said the exposed data include names, birth dates, Social Security numbers, addresses and some driver’s license numbers, all of which Equifax aims to protect for its customers.

    Equifax added that 209,000 U.S. credit card numbers were obtained, in addition to “certain dispute documents with personal identifying information for approximately 182,000 U.S. consumers.”

    Credit reporting agency

    “This is a security risk for any and every website that anyone uses,” Christopher O’Rourke, founder and CEO of cybersecurity firm Soteria, told CNBC.

    Equifax Chairman and CEO Richard Smith apologized to consumers and customers and noted that he’s aware the breach affects what the company is supposed to protect.

    Equifax said it is now alerting customers whose information was included in the breach via mail, and is working with state and federal authorities. Its private investigation into the breach is complete. NBC News, citing law enforcement sources, reported that the FBI was actively investigating the incident and that the company has been cooperating with the bureau.

    Join CNBC, the Aspen Institute and the most influential cybersecurity players from government, business and tech at the Cambridge Cyber Summit, October 4 in Boston.

    Correction: A previous version of this story misidentified the Office of Personnel Management.

    — CNBC’s Mike Calia contributed to this report.





    Credit Reporting Agency Equifax Reveals Massive Hack: NPR, credit reporting agency.#Credit #reporting #agency

    Credit Reporting Agency Equifax Reveals Massive Hack

    NPR’s David Greene talks to Washington Post reporter Craig Timberg about the hacking of credit reporting agency Equifax. Hackers may have gained access to data from 143 million Americans.

    DAVID GREENE, HOST:

    Equifax, the big credit reporting agency, reports that it was hacked in May. Whoever did the hacking seems to have gained access to Social Security numbers, home addresses, driver’s licenses and a lot of other information for up to 143 million Americans. Craig Timberg covers technology for The Washington Post and joins us. Hey there, Craig.

    CRAIG TIMBERG: Hi David.

    GREENE: So if this took place in May, why are we just hearing about this now?

    TIMBERG: Boy, is that a great question?

    TIMBERG: Equifax says they discovered it on July 29, which, by my math, is about six weeks ago. And they have not answered my questions about why it took so long. I will say it’s not unusual for companies to wait a while. But, man, I might’ve wanted to know over the last six weeks that my Social Security number might’ve been kicked around on some dark website.

    GREENE: Yeah. I mean, isn’t there stuff you might’ve done, like, to protect yourself – or get new credit cards or something like that in all these weeks?

    TIMBERG: Potentially, yes – and for a lot of people, yes. This is an issue that Congress and some state legislators have looked at. But, in fact, there aren’t really any rules about how quickly and what kind of information companies need to disclose. And it’s a source of some frustration.

    GREENE: For everyone, including reporters who were trying to get information out of the company, it sounds like (laughter).

    GREENE: So if – let’s say you’re an American, and you were not already vulnerable to identity theft. Are there just tons more people now in the country who are going to be vulnerable because of this?

    TIMBERG: I think so. There’s no way, really, to know how vulnerable you are. There have been just so many hacks. And so much information has spilled out over the past few years that to think that you weren’t vulnerable is probably naive. On the other hand, this does kind of feel like the big one, right? I mean more than half of all American adults seem to have been caught up in this. So, you know, if I wasn’t – (laughter) if my information isn’t out there, my wife’s information probably is.

    TIMBERG: So, yeah. It’s terrifying.

    GREENE: Any advice that that experts are giving for what to do now if you think that you might’ve been hacked and part of this?

    TIMBERG: You know, the main thing is to keep an eye on things like your – you know, on your credit card reports and things like that to make sure weird charges don’t show up. It’s also good – you know, there are these credit monitoring services that Equifax, in fact, sells and is offering everybody for free for the next year. But I don’t know. I feel pretty powerless, to be honest. I don’t know what I’m supposed to do to protect myself.

    GREENE: Yeah. No, it’s getting to that point. And we have no idea who did this, – right? – as of now.

    TIMBERG: No, not yet. I mean, we presume the FBI has been on this for at least a few weeks. They’re pretty good. But let’s say they find, you know, someone in Belarus who pulled off this hack. It’s not like our credit information or, I mean, credit card information or Social Security numbers are suddenly going to come back into the protected zone.

    GREENE: Right. The hackers are not going to hand it back and say, we’re sorry.

    TIMBERG: No, I don’t think so.

    GREENE: Craig Timberg is national technology reporter for The Washington Post – talking to us about this huge hack at Equifax, which may have made vulnerable the information of upwards of 143 million Americans, which is a lot of people. Craig, thank you.

    TIMBERG: Thank you, David.

    (SOUNDBITE OF JON HOPKINS’ “OPEN EYE SIGNAL”)

    Copyright 2017 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

    NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR s programming is the audio record.





    What Is the Fair Credit Reporting Act, fair credit reporting.#Fair #credit #reporting

    What Is the Fair Credit Reporting Act?

    The Fair Credit Reporting Act (FCRA) is a federal law that governs how a credit reporting agency (CRA) handles your credit information. It is designed to protect the integrity and privacy of your credit information. The FCRA requires credit reporting agencies–and the entities that report your credit information to them and others–to ensure that your information is fair and accurate, and kept private. The FCRA protects your right to access and correct any inaccuracies in your credit report and provides you with remedies if a credit reporting agency or information furnisher violates your rights.

    For articles on your credit report, credit score, cleaning up your credit report, and more, see Nolo’s Credit Repair topic area.

    Who/What is a CRA?

    A CRA is any entity that collects and furnishes credit information about you. A common type of CRA is a credit bureau, such as Transunion, Equifax or Experian. A CRA also includes a company or person who collects and sells your credit information (often in the form of background checks) to landlords, employers, or anyone else who makes a credit decision about you.

    Obligations of a CRA

    A CRA is obligated to:

    upon your request, provide you with the information it has on file about you (called your file disclosure ), often for free (to learn how to get your credit report, see Credit Reports Credit Scores)

    provide you with your credit score upon your request (you’ll most likely have to pay a fee; see Credit Reports Credit Scores )

    investigate disputed credit information in your file (there are a few exceptions to this rule; see When the CRA Does Not Have to Investigate Your Complaint.)

    correct or delete any inaccurate, incomplete, or unverifiable information within 30 days of the receiving notice of your dispute (for more on this, see How to Correct Errors on Your Credit Report)

    refrain from reporting old credit information, usually more than seven to ten years old (see How Long Does Negative Information Stay on Your Credit Report)

    limit disclosure of your credit file to third parties who have a valid need (such as a creditor, landlord, or employer), and

    withhold disclosure of your credit information to employers unless you consent.

    Who/What is an Information Supplier?

    An information supplier is any entity that submits your credit information to a CRA. Usually, that means your creditor. But it could also mean any other third party that you have even a loose credit relationship with, such as a government entity to whom you owe taxes, costs, or fines.

    Obligations of an Information Supplier

    Under the FCRA, your creditor and any other information supplier:

    must not report to a CRA any information about you that it knows — has reasonable cause to know — is inaccurate

    has a duty to promptly update and correct any inaccurate information that it previously supplied to the CRA

    must tell you about any negative credit information it reports to a CRA within 30 days

    must notify the CRA when you voluntarily close an account with it, and

    must maintain a reasonable procedure to respond to identity theft notices by a CRA, and refrain from reporting information about an account that you previously reported was the result of identity theft.

    If you dispute the inaccurate information with your creditor, in writing, it cannot continue to report the wrong information to the CRA until it investigates. It must also notify the CRA of your dispute.

    Users of Credit Information

    In addition to CRAs and your creditors, anyone who uses your credit information for employment, credit, or insurance purposes is covered by the FCRA. They must:

    notify you if they turn you down based on what they found in your credit report, and

    identify the CRA or information supplier who provided the report.





    Fair Credit Reporting Act (FCRA), fair credit reporting.#Fair #credit #reporting

    Fair Credit Reporting Act (FCRA)

    Para informacion en espanol, visite www.consumerfinance.gov/learnmore o escribe a la Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, D.C. 20552.

    A Summary of Your Rights under the Fair Credit Reporting Act

    The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). Here is a summary of your major rights under the FCRA. For more information, including information about additional rights, go to www.consumerfinance.gov/learnmore or write to: Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, D.C. 20552.

    You must be told if information in your file has been used against you. Anyone who uses a credit report or another type of consumer report to deny your application for credit, insurance, or employment or to take another adverse action against you must tell you, and must give you the name, address, and phone number of the agency that provided the information.

    You have the right to know what is in your file. You may request and obtain all the information about you in the files of a consumer reporting agency (your file disclosure ). You will be required to provide proper identification, which may include your Social Security number. In many cases, the disclosure will be free. You are entitled to a free file disclosure if:

    • a person has taken adverse action against you because of information in your credit report;
    • you are the victim of identity theft and place a fraud alert in your file;
    • your file contains inaccurate information as a result of fraud;
    • you are on public assistance;
    • you are unemployed but expect to apply for employment within 60 days.

    In addition, all consumers are entitled to one free disclosure every 12 months upon request from each nationwide credit bureau and from nationwide specialty consumer reporting agencies. See www.consumerfinance.gov/learnmore for additional information.

    You have the right to ask for a credit score. Credit scores are numerical summaries of your creditworthiness based on information from credit bureaus. You may request a credit score from consumer reporting agencies that create scores or distribute scores used in residential real property loans, but you will have to pay for it. In some mortgage transactions, you will receive credit score information for free from the mortgage lender.

    You have the right to dispute incomplete or inaccurate information. If you identify information in your file that is incomplete or inaccurate, and report it to the consumer reporting agency, the agency must investigate unless your dispute is frivolous. See www.consumerfinance.gov/learnmore for an explanation of dispute procedures.

    Consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable information. Inaccurate, incomplete or unverifiable information must be removed or corrected, usually within 30 days. However, a consumer reporting agency may continue to report information it has verified as accurate.

    Consumer reporting agencies may not report outdated negative information. In most cases, a consumer reporting agency may not report negative information that is more than seven years old, or bankruptcies that are more than 10 years old.

    Access to your file is limited. A consumer reporting agency may provide information about you only to people with a valid need usually to consider an application with a creditor, insurer, employer, landlord, or other business. The FCRA specifies those with a valid need for access.

    You must give your consent for reports to be provided to employers. A consumer reporting agency may not give out information about you to your employer, or a potential employer, without your written consent given to the employer. Written consent generally is not required in the trucking industry. For more information, go to www.consumerfinance.gov/learnmore.

    You may limit prescreened offers of credit and insurance you get based on information in your credit report. Unsolicited prescreened offers for credit and insurance must include a toll-free phone number you can call if you choose to remove your name and address from the lists these offers are based on. You may opt-out with the nationwide credit bureaus at 1 888 5OPTOUT (1 888 567 8688).

    You may seek damages from violators. If a consumer reporting agency, or, in some cases, a user of consumer reports or a furnisher of information to a consumer reporting agency violates the FCRA, you may be able to sue in state or federal court.

    Identity theft victims and active duty military personnel have additional rights. For more Information, visit www.consumerfinance.gov/learnmore.

    States may enforce the FCRA, and many states have their own consumer reporting laws. In some cases, you may have more rights under state law. For more information, contact your state or local consumer protection agency or your state Attorney General. For more information about your federal rights, contact:

    1.a. Banks, savings associations, and credit unions with total assets of over $10 billion and their affiliates.

    b. Such affiliates that are not banks, savings associations, or credit unions also should list in addition to the Bureau:

    a. Bureau of Consumer Financial Protection

    1700 G Street NW

    Washington, DC 20552

    b. Federal Trade Commission: Consumer Response Center – FCRA Washington, DC 20580

    2. To the extent not included in item 1 above:

    a. National banks, federal savings associations, and federal branches and federal agencies of foreign banks

    b. State member banks, branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act

    c. Nonmember Insured banks, Insured State Branches of Foreign Banks, and insured state savings associations

    a. Office of the Comptroller of the Currency

    Customer Assistance Group

    1301 McKinney Street, Suite 3450

    Houston, TX 77010-9050

    b. Federal Reserve Consumer Help Center

    Minneapolis, MN 55480

    c. FDIC Consumer Response Center

    1100 Walnut Street, Box #11

    Kansas City, MO 64106

    d. National Credit Union Administration

    Office of Consumer Protection (OCP)

    Division of Consumer Compliance and Outreach (DCCO)

    1775 Duke Street

    Alexandria, VA 22314

    Asst. General Counsel for Aviation Enforcement Proceedings

    Aviation Consumer Protection Division

    Department of Transportation

    1200 New Jersey Avenue SE

    Washington, DC 20590

    4. Creditors Subject to Surface Transportation Board

    Office of Proceedings, Surface Transportation Board

    Department of Transportation

    395 E Street, SW

    Washington, DC 20423

    5. Creditors Subject to Packers and Stockyards Act

    Nearest Packers and Stockyards Administration area supervisor

    6. Small Business Investment Companies

    Associate Deputy Administrator for Capital Access

    United States Small Business Administration

    409 Third Street, SW, 8th Floor

    Washington, DC 20416

    Securities and Exchange Commission

    Washington, DC 20549

    8. Federal Land Banks, Federal Land Bank Associations, Federal Intermediate Credit Banks, and Production Credit Associations

    Farm Credit Administration

    1501 Farm Credit Drive

    McLean, VA 22102-5090

    9. Retailers, Finance Companies, and All Other Creditors Not Listed Above

    FTC Regional Office for region in which the creditor operates or Federal Trade Commission: Consumer Response Center FCRA

    Washington, DC 20580

    Notification of Rights

    Review Your Free Experian Credit Report Today

    Good credit begins with knowing where your credit is today. Get started with your free Experian Credit Report, updated every 30 days on sign in. No credit card required.

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    I was denied credit based on a credit report from Experian. Can I order a fr.





    What Is the Fair Credit Reporting Act, what is the fair credit reporting act.#What #is #the #fair #credit #reporting #act

    What Is the Fair Credit Reporting Act?

    The Fair Credit Reporting Act (FCRA) is a federal law that governs how a credit reporting agency (CRA) handles your credit information. It is designed to protect the integrity and privacy of your credit information. The FCRA requires credit reporting agencies–and the entities that report your credit information to them and others–to ensure that your information is fair and accurate, and kept private. The FCRA protects your right to access and correct any inaccuracies in your credit report and provides you with remedies if a credit reporting agency or information furnisher violates your rights.

    For articles on your credit report, credit score, cleaning up your credit report, and more, see Nolo’s Credit Repair topic area.

    Who/What is a CRA?

    A CRA is any entity that collects and furnishes credit information about you. A common type of CRA is a credit bureau, such as Transunion, Equifax or Experian. A CRA also includes a company or person who collects and sells your credit information (often in the form of background checks) to landlords, employers, or anyone else who makes a credit decision about you.

    Obligations of a CRA

    A CRA is obligated to:

    upon your request, provide you with the information it has on file about you (called your file disclosure ), often for free (to learn how to get your credit report, see Credit Reports Credit Scores)

    provide you with your credit score upon your request (you’ll most likely have to pay a fee; see Credit Reports Credit Scores )

    investigate disputed credit information in your file (there are a few exceptions to this rule; see When the CRA Does Not Have to Investigate Your Complaint.)

    correct or delete any inaccurate, incomplete, or unverifiable information within 30 days of the receiving notice of your dispute (for more on this, see How to Correct Errors on Your Credit Report)

    refrain from reporting old credit information, usually more than seven to ten years old (see How Long Does Negative Information Stay on Your Credit Report)

    limit disclosure of your credit file to third parties who have a valid need (such as a creditor, landlord, or employer), and

    withhold disclosure of your credit information to employers unless you consent.

    Who/What is an Information Supplier?

    An information supplier is any entity that submits your credit information to a CRA. Usually, that means your creditor. But it could also mean any other third party that you have even a loose credit relationship with, such as a government entity to whom you owe taxes, costs, or fines.

    Obligations of an Information Supplier

    Under the FCRA, your creditor and any other information supplier:

    must not report to a CRA any information about you that it knows — has reasonable cause to know — is inaccurate

    has a duty to promptly update and correct any inaccurate information that it previously supplied to the CRA

    must tell you about any negative credit information it reports to a CRA within 30 days

    must notify the CRA when you voluntarily close an account with it, and

    must maintain a reasonable procedure to respond to identity theft notices by a CRA, and refrain from reporting information about an account that you previously reported was the result of identity theft.

    If you dispute the inaccurate information with your creditor, in writing, it cannot continue to report the wrong information to the CRA until it investigates. It must also notify the CRA of your dispute.

    Users of Credit Information

    In addition to CRAs and your creditors, anyone who uses your credit information for employment, credit, or insurance purposes is covered by the FCRA. They must:

    notify you if they turn you down based on what they found in your credit report, and

    identify the CRA or information supplier who provided the report.





    Here – s Why I Hate Credit Reporting Agencies, three credit reporting agencies.#Three #credit #reporting #agencies

    Here s Why I Hate Credit Reporting Agencies — And Why You Should Too

    A few days ago, Equifax, one of the Big Three credit reporting agencies, admitted that the personal data of 143 million consumers had been compromised. This is not the biggest data breach ever, but it might be the worst. After all, Equifax is not just any company. It s a company whose main job is collecting masses of private financial data—and it does this even though it has neither a business relationship nor explicit permission from the people it monitors. This is a massive and unprecedented FUBAR.

    (For more on why the Equifax breach is even worse than you think, Michael Hiltzik explains here.)

    Three credit reporting agencies

    I am no fan of the credit reporting business, one of the most arrogant and anti-consumer industries imaginable. Twelve years ago I wrote about them for the Washington Monthly, and it s startling how little has changed since then. I could republish the story today with only the most cursory changes.

    For example, part of my piece was devoted to credit freezes, something you may have heard a lot about lately. This is an action you can take to protect yourself in case of identify theft: if you ask for your account to be frozen, credit agencies will furnish a credit report only after they ve confirmed that it really is you who applied for credit. This stops identity thieves in their tracks: if they apply for a credit card in your name, the credit agency will call you first. When you tell them you never applied for the card, it doesn t get issued.

    But this really shouldn t be an option you have to request. It should be routine for all credit transactions. The reason it isn t is because it s inconvenient for the credit reporting agencies, who have fought regulation on this topic tooth and nail. It s also because they literally make money on identify theft—no, that s not a typo—and therefore don t have much incentive to do anything about it.

    Still, as much as I think all accounts should be frozen by default, my solution to the problem of identity theft isn t to force the credit reporting agencies to freeze or unfreeze accounts—or to force them to do anything else. It s to make them responsible for all damages related to identity theft and then let them figure out the best solution. Here s what I wrote in my Monthly piece:

    There is a successful precedent for this type of approach. In 1968, Congress passed the Truth in Lending Act, which imposed a variety of regulations on the lending industry. One notably simple provision was that consumers could be held liable for no more than $50 if their credit cards were stolen and used without their authorization. For anything above that, it was the credit-card issuer who had to pay. The result was predictable: Credit-card companies have since taken it upon themselves to develop a wide range ofeffective anti-fraud programs. Congress didn t tell them to do it, or even how. It just made them responsible for the losses, and the card issuers did the rest themselves.

    The same method should be used for identity theft. There s no need to create mountains of regulations, which are uniformly despised by the credit industry. Instead, simply make the industry itself—and any institution that handles personal data—liable for the losses in both time and money currently borne by consumers. The responsible parties will do the rest themselves.

    There s more to say about this, but sadly, my piece is no longer available at the Monthly site. The great linkrot plague has devoured it. Luckily, I m a magazine packrat and I still have a dead-tree copy. So I scanned it and turned it into a PDF. Click here to read it—and to find out just why I hate the credit reporting agencies so intensely. It s worth your time, especially considering how little has been done about this over the past decade. It represents one of the all-time abject surrenders to Big Finance, and it s something the Elizabeth Warren wing of the Democratic Party should be all over. The time for small-bore proposals is over. It s time to make the credit agencies—and others—pay for their flagrantly careless behavior. When they allow someone to steal your identity, they re the ones who should pay the price, not you.

    UPDATE: The Wayback Machine also has a copy of my article. I shoulda checked! Click here to see it.

    Get the scoop, straight from Mother Jones.
    • Previous: American Hospitals are Ungodly Expensive
    • Next: Chart of the Day: Household Income Finally Beats 1999 Record
    • Three credit reporting agencies





    3 Bureau Credit Reports and Scores from Experian, three credit reporting agencies.#Three #credit #reporting #agencies

    3-Bureau Credit Report and FICO Scores 1

    One-time cost of $39.95

    1 Credit score calculated based on FICO Score 8 model. Your lender or insurer may use a different FICO Score than FICO Score 8, or another type of credit score altogether. Learn More.

    Product features:

    3-bureau Credit Report

    See how you compare across all 3-bureau Credit Reports with views into your personal information, the accounts reported to each bureau, overall credit usage and debt summary, what hard inquiries there are, and if there are any collections or public records reported.

    3-bureau FICO Scores

    See what factors are impacting each of your 3-bureau FICO Scores, including payment history, recent credit card usage, your length of credit history, any derogatory items, and credit account types such as installment loans.

    Live customer support

    Get insight into the factors that may be impacting your credit risk level, and learn the details about the items that appear in your Experian Credit Report. Support is available toll-free 7 days a week.

    3-bureau credit resources

    How to Resolve Disputes with Credit Bureaus

    When you dispute information on your Credit Report, Experian contacts the company that reported the information and notifies them of your dispute.

    Debt Bureau Reports Not Part of Experian Credit Report

    Debit bureaus specialize in collecting information on accounts held at banking institutions, such as checking and savings accounts, and the information collected by debit bureaus do not appear in an Experian Credit Report.

    Do you have to place a fraud alert with each credit reporting company?

    When you request a fraud alert or security alert be added with any of the three major credit reporting companies, the company you contacted will notify the other two and alerts will be added with those agencies as well.

    Credit basics

    Why can Credit Scores be different for each of the 3 bureaus?

    If the scores vary based on the same scoring model, then Credit Report information could be different at each of the 3 bureaus. For example, one bureau may have 6 hard inquiries on its credit report, another may have 2, and the last bureau may have 4. Since the number of hard inquiries is a factor in calculating your Credit Score, this could produce different score numbers, even though it is based on the same scoring model.

    Why should I check all 3 bureau Credit Reports and Credit Scores?

    Information reported to each of the 3 bureaus can be different and the individual creditors furnishing data may also be different, meaning one creditor may only report to one or only two of the three bureaus. Lenders, such as mortgage companies are not required by law to report account information to each of the 3 bureaus. Checking each of your 3 Credit Reports gives you a comprehensive view so that you can easily identify differences that could impact your credit standing.

    Get your 3-bureau Credit Report and FICO Scores

    One time cost of $39.95

    • Products Products
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    • Experian CreditLock
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    • 3-Bureau Credit Report and Scores
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    • Credit Cards Loans
    • Support Support
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    • Security Freeze
    • Fraud Alert
    • Identity Theft Victim Assistance
    • Document Upload Service
    • View All
    • Education and Advice Education and Advice
    • What is a Good Credit Score
    • Improve Your Credit Score
    • FICO Score Ranges
    • Credit Repair
    • How to Build Credit
    • Understanding Credit Scores

    Get the Free Experian app:

    Experian Global Sites

    FICO Scores are developed by Fair Isaac Corporation. The FICO Score provided by ConsumerInfo.com, Inc., also referred to as Experian Consumer Services (“ECS”), in Experian CreditWorks SM , Credit Tracker SM and/or your free Experian membership (as applicable) is based on FICO Score 8, unless otherwise noted. Many but not all lenders use FICO Score 8.

    In addition to the FICO Score 8, ECS may offer and provide other base or industry-specific FICO Scores (such as FICO Auto Scores and FICO Bankcard Scores). The other FICO Scores made available are calculated from versions of the base and industry-specific FICO Score models. There are many different credit scoring models that can give a different assessment of your credit rating and relative risk (risk of default) for the same credit report. Your lender or insurer may use a different FICO Score than FICO Score 8 or such other base or industry-specific FICO Score, or another type of credit score altogether. Just remember that your credit rating is often the same even if the number is not.

    For some consumers, however, the credit rating of FICO Score 8 (or other FICO Score) could vary from the score used by your lender. The statements that “90% of top lenders use FICO Scores” and “FICO Scores are used in 90% of credit decisions” are based on a third-party study of all versions of FICO Scores sold to lenders, including but not limited to scores based on FICO Score 8. Base FICO Scores (including the FICO Score 8) range from 300 to 850. Industry-specific FICO Scores range from 250-900. Higher scores represent a greater likelihood that you’ll pay back your debts so you are viewed as being a lower credit risk to lenders. A lower FICO Score indicates to lenders that you may be a higher credit risk.

    There are three different major credit reporting agencies — the Experian credit bureau, TransUnion ® and Equifax ® — that maintain a record of your credit history known as your credit report. Your FICO Score is based on the information in your credit report at the time it is requested. Your credit report information can vary from agency to agency because some lenders report your credit history to only one or two of the agencies. So your FICO Score can vary if the information they have on file for you is different. Since the information in your report can change over time, your FICO Score may also change.





    Getting Credit Reports From Specialty Consumer Reporting Agencies, three credit reporting agencies.#Three #credit #reporting #agencies

    Getting Credit Reports From Specialty Consumer Reporting Agencies

    Besides the three nationwide credit reporting agencies, there are also a number of nationwide specialty credit reporting agencies (also called specialty consumer reporting agencies). Getting your report from one of these agencies involves a different process than if you are requesting a report from Equifax, Experian, or Transunion.

    (To learn more about credit reports and scores, and how to get them, see Credit Reports Credit Scores.)

    What Is a Specialty Consumer Reporting Agency?

    A specialty consumer reporting agency keeps records on particular types of transactions, such as

    • tenant histories
    • insurance claims
    • medical records or payments
    • employment histories, or
    • check writing.

    How to Get a Report From a Specialty Consumer Reporting Agency

    In addition to your yearly free credit report from each of the regular nationwide credit reporting agencies, you are also entitled to a free credit report each year from each of the nationwide specialty credit reporting agencies.

    To get your report, you must contact each agency individually you may even need to call different phone numbers for different types of reports from the same agency. Unfortunately, you may not know which reporting agency a landlord, employer, or insurance company uses.

    Major Nationwide Specialty Credit Reporting Agencies

    Here are some of the main nationwide specialty credit reporting agencies and their contact information:

    Lexis Nexis Personal Reports. For a tenant history report, call 877-448-5732, for an insurance claims report, call 866-312-8076, and for an employment history report, call 866-312-8075. To get all the information the agency has on you, mail in the request form available on its website at https://personalreports.lexisnexis.com.

    Medical Information Bureau. For a medical history report if you have private health insurance, go to www.mib.com, or call 866-692-6901.

    ISO. For an insurance claims report, go to www.iso.com, and search for “A-PLUS loss-history report, or call 800-627-3487.

    Telecheck. For a check writing report go to www.firstdata.com or call 1-800-366-2425.

    ChexSystems. For a check writing report go to www.consumerdebit.com or call 800-428-9623.

    Certegy. For a check writing report go to www.askcertegy.com or call 866-543-6315.

    In addition, you can find a list of most credit reporting agencies in the country and their contact information, divided by type (medical, employment, tenant, insurance, and the like), on the Consumer Financial Protection Bureau s website at www.consumerfinance.gov. Search for how many consumer reporting companies are there, and follow the link to the list. (Not all of the companies on the list provide free reports. If a company, such as a nationwide credit reporting agency or a specialty credit reporting agency, does provide one free report per year, the list will say so.)

    This is an excerpt from Credit Repair , by Margaret Reiter and Robin Leonard (Nolo).





    Three Credit Bureaus Agencies, three credit reporting agencies.#Three #credit #reporting #agencies

    Information on the 3 National Credit Reporting Agencies or Credit Bureaus

    The 3 national credit reporting agencies in the United States are Equifax, Experian, and Trans Union. Experian was formerly known as TRW. A fourth national credit reporting agency named Innovis exists, but does not currently seem to factor into decisions for denials of credit, insurance or employment. It is more in a development stage.

    To contact the 3 national credit reporting agencies:

    The three national credit agencies may be contacted directly at:

    Equifax

    TransUnion

    Experian

    Atlanta, GA 30374

    Chester, PA 19022

    These national credit agencies are for-profit companies owned by their shareholders. They are not government entities or funded by the government. There are also independent, non-national, local credit bureaus throughout the country that are generally affiliated with one of the 3 national credit reporting agencies. Local bureaus are sometimes for-profit companies and sometimes non-profit associations of lender/members in a particular geographical area.

    The 3 national credit reporting agencies are competitors of each other, and they do not normally share their credit information except in special cases. That is why it is important to order a credit report from all three.

    Credit agencies or bureaus gather their consumer credit information by soliciting creditors such as credit card companies, banks, and lenders to join their systems and contribute their credit experience on consumers to the systems. In return for submitting information to the systems, creditor members may use the system to obtain credit information on consumers to approve credit decisions or review existing consumer accounts.

    Credit agencies are generally regulated by the Fair Credit Reporting Act (FCRA), which is the Federal law generally covering consumer reporting agencies including credit reporting in this country. Individual states may also have their own versions of the law.

    Under Federal law credit reporting companies known as CRAs (consumer reporting agencies) have numerous responsibilities to protect consumers and their credit information. A Summary of the FCRA is at http://www.creditreporting.com/fair-credit-reporting-act/index.html .

    Opt Out Number For List Sales by the National Credit Reporting Agencies

    IN COMPLIANCE WITH THE FAIR CREDIT REPORTING ACT OF 1996.

    The credit reporting industry has designated a single toll free number that will allow consumers to opt out of promotional mailing lists sold by credit reporting agencies. The system is an interactive voice mail that requests information necessary to opt out of such lists.

    Consumers should call (888) 5 OPT OUT and follow the voice prompt. Once the information is recorded, an e-mail is sent to the three bureaus daily and posted to consumer files. The number is available 24 hours a day.





    New York governor wants credit-reporting firms to follow cyber rules, Reuters, the three credit reporting agencies.#The #three #credit #reporting #agencies

    New York governor wants credit-reporting firms to follow cyber rules

    WASHINGTON/NEW YORK (Reuters) – New York Governor Andrew Cuomo said on Monday that he wants credit-reporting firms to comply with the state s cyber-security regulations, the latest government official to crack down on the industry in the wake of the massive Equifax hack.

    Also on Monday, Bloomberg News reported that federal authorities have opened a criminal probe into stock sales by three Equifax Inc ( EFX.N ) executives before the company disclosed the massive data breach, news that has weighed heavily on the stock price.

    The company has said the executives were unaware of the hack when they sold the stock for $1.8 million.

    Equifax s legal woes worsened as the U.S Attorney s office in Atlanta issued a statement saying it was working with the FBI on a criminal investigation into the breach and theft of personal information.

    Equifax shares rose 1.5 percent on Monday after losing about a third of their value since the hack was announced. The Equifax breach discovered on July 29 exposed sensitive data like Social Security numbers of up to 143 million people.

    Cuomo said he planned to require all credit-reporting agencies to register with the state and comply with its cyber-security rules.

    The proposed regulation would take effect in February, Cuomo said in a statement. If the companies do not register, they risk being barred from doing business with financial companies regulated by New York state.

    The state would be able to bar credit-reporting agencies, including TransUnion ( TRU.N ) and Experian Plc ( EXPN.L ), as well as Equifax, from doing business in New York if the state found they engaged in unfair, deceptive or predatory practices, Cuomo said.

    The Equifax breach was a wake-up call, Cuomo said. And with this action, New York is raising the bar for consumer protections that we hope will be replicated across the nation.

    Proposed regulations are typically subject to a period for public comment before they become final.

    A New York state cyber-security regulation, the first of its kind in the United States, took effect on March 1. It requires financial firms to take measures to protect networks and customer data from hackers and disclose cyber events to regulators.

    Maine is the only U.S. state that requires credit agencies to register, said William Lund, superintendent of the Maine Bureau of Consumer Credit Protection. But its law does not cover cyber security, an issue the bureau will have to consider, Lund said.

    Maine, which has been registering credit-reporting agencies since the 1990s, has 30 such agencies on its roster, ranging from the largest to those dealing with everything from check approval to tenants rental histories, he added.

    The three credit-reporting agencies did not respond to requests for comment on Cuomo s plan.

    Bloomberg reported on Monday that the U.S. Justice Department is investigating whether Equifax s chief financial officer, John Gamble, and two other executives broke insider-trading rules by selling stock after the breach was discovered in July and weeks before it was disclosed this month.

    Reuters was not able to confirm the Bloomberg report.

    Separately, the company issued a statement saying a second Bloomberg report late on Monday about a second cyber attack in March referred to a breach at Equifax payroll unit that was previously reported to regulators, customers and consumers and also been covered by the press.

    Equifax complied fully with all consumer notification requirements related to the March incident. The two events are not related, the statement said.

    Reporting by Diane Bartz and Suzanne Barlyn; Additional reporting by Sarah N. Lynch, David Shepardson and Dustin Volz; Editing by Jim Finkle, Leslie Adler and Michael Perry





    Consumer Data Industry Association – Metro 2 – Metro 2® Format for Credit Reporting, credit reporting companies.#Credit #reporting #companies

    Metro 2® Format for Credit Reporting

    Download Instructions for the Metro 2 Format

    If your company furnishes consumer credit account data on a regular basis to credit reporting agencies, you have duties under the Fair Credit Reporting Act (FCRA) to correct and update that consumer credit history information.

    To assist data furnishers (such as banks, credit unions, consumer credit card companies, retailers, and auto finance companies) in this process, the credit reporting industry has adopted a standard electronic data reporting format called the Metro 2 Format.

    Access to the Metro 2 Format is limited to employees of (a) companies that furnish data to consumer reporting agencies in either the MetroTM or Metro 2 Format, (b) data processors who furnish data to consumer reporting agencies in either the MetroTM or Metro 2 Format, (c) software vendors who provide MetroTM or Metro 2 programming software, and (d) consumer reporting agencies that accept or transmit data in the MetroTM or Metro 2 Format.

    To access the Metro 2 Format you must log in to your CDIA account. If you are not a registered user you will need to first create a CDIA account. For additional guidance on accessing your CDIA account, please visit FAQ2 and FAQ3 in the CDIA Account Access Guide.

    After you are logged in, follow the steps below:

    • If CDIA recognizes your login as a Metro 2 approved user you will be brought to the Metro 2 Access Agreement. Review the agreement and select I Accept . You will be given immediate access to the Metro 2 Format documents. In the future you may return to the Metro 2 documents by logging in to your CDIA account and clicking on Metro 2 Access on the My Account dashboard page.

  • If CDIA does not recognize your login as being a Metro 2 approved user you will be brought to the No Access page.
    • Review the Metro 2 Access Policy and select Continue
    • Follow the instructions on how to download the Metro 2 Format by calling one of the listed phone numbers to obtain a one-time username and password.
    • Enter the one-time username and password to log in.
    • Carefully read and accept the Metro 2 Access Agreement for immediate access to the Metro 2 Format documents.
    • In the future you may return to the Metro 2 documents by logging into your CDIA account and clicking on Metro 2 Access on the My Account dashboard page.
  • Special Note to Software Vendors

    CDIA strongly recommends all software vendors to beta test a sampling of your customers’ data with each consumer reporting agency prior to mass distribution of software to ensure Metro 2 standards have been met. Refer to the Implementation Checklist in the Credit Reporting Resource Guide ; section 8, for details.

    Thorough testing of your software version of the Metro 2 Format prevents costly changes, redistribution of your software and customer delays in reporting.

    If you have any questions regarding the Metro 2 Format, contact your consumer reporting agency contacts.





    A Layman s Guide to Fair Credit Reporting Act (FCRA) – Credit Reporting, what is fair credit reporting act.#What #is #fair #credit #reporting #act

    Layman’s Guide to the Fair Credit Reporting Act (FCRA) by section:

    go to Section 605B.

  • Section 606В – One of the main point of this section on investigate consumer reports, like employment reports, is that there are required disclosures that must be made to consumers — go to Section 606.
  • Section 607В – Compliance section, which means that CRA’s must maintain reasonable procedures to avoid violating Section 604 and 605 of the Act, such as providing obsolete information or furnishing reports for non permitted purposes — go to Section 607.
  • Section 608В – When a government agency can see your report and what they can see — go to Section 608.
  • Section 609В – What must be disclosed to consumers upon request — go to Section 609.
  • Section 610В – To obtain your own report, consumers must provide identification, and disclosures must generally be in writing — go to Section 610.
  • Section 611В – Procedures when the consumer disputes the accuracy or completeness of an item in their file — go to Section 611.
  • Section 612В – Not all credit reports are free, some may incur a fee — go to Section 612.
  • Section 613В – CRA’s must be careful about furnishing public records for employment reports — go to Section 613.
  • Section 614В – Talks about investigative consumer reports and using information from an old report — go to Section 614.
  • Section 615В – Users and others who obtain consumer reports have important responsibilities — go to Section 615.
  • Section 616В – Dollar liability for those who willfully violate the Act — go to Section 616.
  • Section 617В – Liability for those who are negligent in failing to comply with the Act — Section 617.
  • Section 618В – Bring actions in US district courts within a specified time frame — go to Section 618.
  • Section 619В – Fines and potential imprisonment for obtaining information under false pretenses — go to Section 619.
  • Section 620В – Fines and potential imprisonment for the officers and employees of the CRA — go to Section 620.
  • Section 621В – The Federal Trade Commission is the main enforcer of the Act — Section 621.
  • Section 622В – Requirements regarding the reporting of overdue child support — go to Section 622.
  • Section 623В – Companies that report your credit information have important responsibilities — Section 623.
  • Section 624В – Governs affiliates who may have access to the report for marketing etc. — go to Section 624.
  • Section 625В – Does not exempt state laws except to extent state law is inconsistent with this law — go to Section 625.
  • Section 626В – The FBI has special rights to see your file — go to Section 626.
  • Section 627В – Counterterrorism has special rights to see your file — go to Section 627.
  • Section 628В – Properly dispose of consumer information to protect the confidentiality of the information — go to Section 628.
  • Section 629В – Prevents consumer reporting agencies from circumventing the law — Section 629.
  • The Fair Credit Reporting Act (FCRA) is designed to help ensure that CRAs (Consumer Reporting Agencies, including credit bureaus and credit reporting companies) furnish correct and complete information to businesses to use when evaluating your application for credit, or insurance, or to employers or prospective employers.

    Your rights under the Fair Credit Reporting Act include:

    • You have the right to receive a copy of your credit report. The copy of your report must contain all of the information in your file at the time of your request.
    • If you contest the completeness or accuracy of information in your report, you may file a dispute with the CRA and with the company that furnished the information to the CRA. Genrally both the CRA and the furnisher of information are legally obligated to reinvestigate your dispute as long as it is not frivolous.
    • CRA’s must correct or remove inaccurate, incomplete or unverifiable information in their files. CRA’s must remove obsolete information in their files.
    • If you are a victim of identity theft or are on active duty with the militar, you have more rights under the FCRA.
    • Only those with a permitted purpose or with your express permission may access your file.
    • Generally employers must have your express written permision to obtain your report.
    • Any company that denies your application, or takes an adverse action against you, based on information obtained from a CRA, must inform you of the adverse action and must supply you with the name and address of the CRA they used.
    • You have the right to a free copy of your credit report in numerous instances including when your application for credit or employment is adversely affected because of information supplied by the CRA. You can get a free credit report each year in any case.
    • You may opt-out of lists provided by the national credit bureaus that are based on your credit file.
    • You may sue under the FCRA for violations of the Act.
    • Credit scores are available to you on request from from mortgage credit agencies and sometimes from mortgage lenders. There may be a fee for the score.




    Cuomo Proposes Stricter Regulations for Credit Reporting Agencies – The New York Times, credit reporting agencies.#Credit #reporting #agencies

    Cuomo Proposes Stricter Regulations for Credit Reporting Agencies

    Credit reporting agencies

    Gov. Andrew M. Cuomo, responding to the massive security breach at Equifax, will propose regulations on Monday that subject credit reporting agencies to the same rules as banks and insurances companies in order to protect consumers.

    The proposal would require companies like Equifax, Experian and TransUnion to register with the state’s Department of Financial Services, whose superintendent will have broad powers to deny or revoke their authorization to do business in the state, or to sue, if a company fails to comply or engages in prohibited practices deemed unfair, deceptive or predatory. Senior administration officials said the proposed regulations would, in effect, make it illegal for unregistered credit reporting agencies to compile reports on consumers in New York or to collect fees from banks for their services.

    The move comes after Equifax, based in Atlanta, announced last week that hackers had gained access to sensitive personal information for 143 million consumers and made off with over 200,000 credit card numbers. The episode highlighted gaps in regulation that allow credit reporting agencies to warehouse consumer information like names, addresses and Social Security numbers without rigorous oversight for how that data is collected, protected and used.

    Mr. Cuomo said in a statement that the breach was “a wake-up call,” and added that he hoped the regulations will be replicated nationwide.

    “A person’s credit history affects virtually every part of their lives and we will not sit idly by while New Yorkers remain unprotected from cyber attacks due to lax security,” he said. “Oversight of credit reporting agencies will help ensure that personal information is less vulnerable to cyberattacks and other nefarious acts in the new frontier of a rapidly changing digital world.”

    Under the regulations, credit reporting agencies must register by Feb. 1 each year, using forms that require them to list all officers who will be responsible for compliance. The companies will also be required to comply with cybersecurity regulations that went into effect this spring for financial services providers.

    The cybersecurity regulations require financial institutions to implement a program for protecting consumer data. The companies must also appoint or designate a chief information security officer and report breaches, attempted or successful, to the regulator.

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    Administration officials said they expected the proposal to be adopted within 60 days, after a public comment period has ended.

    The information that credit reporting agencies collect hold the keys to Americans’ bank accounts and medical histories. Although the companies sit on a wealth of information, they are not subject to the kind of constant monitoring and auditing that the government uses to secure banks and insurance companies.

    The risks were highlighted by the Equifax breach, which led two senior executives responsible for security in information technology to retire on Friday. The company is investigating the scope and cause of the intrusion.

    The hackers, who have not been identified, exploited a known security loophole in software that Equifax uses on its website, prompting questions about why the company did not make a fix that could have prevented the attack.

    Equifax is facing legal threats and backlash from consumers, investors and policy makers. Attorney General Eric T. Schneiderman is investigating the breach, and at least two class-action lawsuits are pending against the company, whose shares have tumbled 35 percent since Sept. 7.

    A version of this article appears in print on September 18, 2017, on Page A21 of the New York edition with the headline: Cuomo Offers Stricter Rules For Credit Reporting Firms. Order Reprints | Today’s Paper | Subscribe

    We re interested in your feedback on this page. Tell us what you think.





    Here – s Why I Hate Credit Reporting Agencies, credit reporting agencies.#Credit #reporting #agencies

    Here s Why I Hate Credit Reporting Agencies — And Why You Should Too

    A few days ago, Equifax, one of the Big Three credit reporting agencies, admitted that the personal data of 143 million consumers had been compromised. This is not the biggest data breach ever, but it might be the worst. After all, Equifax is not just any company. It s a company whose main job is collecting masses of private financial data—and it does this even though it has neither a business relationship nor explicit permission from the people it monitors. This is a massive and unprecedented FUBAR.

    (For more on why the Equifax breach is even worse than you think, Michael Hiltzik explains here.)

    Credit reporting agencies

    I am no fan of the credit reporting business, one of the most arrogant and anti-consumer industries imaginable. Twelve years ago I wrote about them for the Washington Monthly, and it s startling how little has changed since then. I could republish the story today with only the most cursory changes.

    For example, part of my piece was devoted to credit freezes, something you may have heard a lot about lately. This is an action you can take to protect yourself in case of identify theft: if you ask for your account to be frozen, credit agencies will furnish a credit report only after they ve confirmed that it really is you who applied for credit. This stops identity thieves in their tracks: if they apply for a credit card in your name, the credit agency will call you first. When you tell them you never applied for the card, it doesn t get issued.

    But this really shouldn t be an option you have to request. It should be routine for all credit transactions. The reason it isn t is because it s inconvenient for the credit reporting agencies, who have fought regulation on this topic tooth and nail. It s also because they literally make money on identify theft—no, that s not a typo—and therefore don t have much incentive to do anything about it.

    Still, as much as I think all accounts should be frozen by default, my solution to the problem of identity theft isn t to force the credit reporting agencies to freeze or unfreeze accounts—or to force them to do anything else. It s to make them responsible for all damages related to identity theft and then let them figure out the best solution. Here s what I wrote in my Monthly piece:

    There is a successful precedent for this type of approach. In 1968, Congress passed the Truth in Lending Act, which imposed a variety of regulations on the lending industry. One notably simple provision was that consumers could be held liable for no more than $50 if their credit cards were stolen and used without their authorization. For anything above that, it was the credit-card issuer who had to pay. The result was predictable: Credit-card companies have since taken it upon themselves to develop a wide range ofeffective anti-fraud programs. Congress didn t tell them to do it, or even how. It just made them responsible for the losses, and the card issuers did the rest themselves.

    The same method should be used for identity theft. There s no need to create mountains of regulations, which are uniformly despised by the credit industry. Instead, simply make the industry itself—and any institution that handles personal data—liable for the losses in both time and money currently borne by consumers. The responsible parties will do the rest themselves.

    There s more to say about this, but sadly, my piece is no longer available at the Monthly site. The great linkrot plague has devoured it. Luckily, I m a magazine packrat and I still have a dead-tree copy. So I scanned it and turned it into a PDF. Click here to read it—and to find out just why I hate the credit reporting agencies so intensely. It s worth your time, especially considering how little has been done about this over the past decade. It represents one of the all-time abject surrenders to Big Finance, and it s something the Elizabeth Warren wing of the Democratic Party should be all over. The time for small-bore proposals is over. It s time to make the credit agencies—and others—pay for their flagrantly careless behavior. When they allow someone to steal your identity, they re the ones who should pay the price, not you.

    UPDATE: The Wayback Machine also has a copy of my article. I shoulda checked! Click here to see it.

    Get the scoop, straight from Mother Jones.
    • Previous: American Hospitals are Ungodly Expensive
    • Next: Chart of the Day: Household Income Finally Beats 1999 Record
    • Credit reporting agencies





    Credit Reporting Agency Equifax Reveals Massive Hack: NPR, credit reporting agency.#Credit #reporting #agency

    Credit Reporting Agency Equifax Reveals Massive Hack

    NPR’s David Greene talks to Washington Post reporter Craig Timberg about the hacking of credit reporting agency Equifax. Hackers may have gained access to data from 143 million Americans.

    DAVID GREENE, HOST:

    Equifax, the big credit reporting agency, reports that it was hacked in May. Whoever did the hacking seems to have gained access to Social Security numbers, home addresses, driver’s licenses and a lot of other information for up to 143 million Americans. Craig Timberg covers technology for The Washington Post and joins us. Hey there, Craig.

    CRAIG TIMBERG: Hi David.

    GREENE: So if this took place in May, why are we just hearing about this now?

    TIMBERG: Boy, is that a great question?

    TIMBERG: Equifax says they discovered it on July 29, which, by my math, is about six weeks ago. And they have not answered my questions about why it took so long. I will say it’s not unusual for companies to wait a while. But, man, I might’ve wanted to know over the last six weeks that my Social Security number might’ve been kicked around on some dark website.

    GREENE: Yeah. I mean, isn’t there stuff you might’ve done, like, to protect yourself – or get new credit cards or something like that in all these weeks?

    TIMBERG: Potentially, yes – and for a lot of people, yes. This is an issue that Congress and some state legislators have looked at. But, in fact, there aren’t really any rules about how quickly and what kind of information companies need to disclose. And it’s a source of some frustration.

    GREENE: For everyone, including reporters who were trying to get information out of the company, it sounds like (laughter).

    GREENE: So if – let’s say you’re an American, and you were not already vulnerable to identity theft. Are there just tons more people now in the country who are going to be vulnerable because of this?

    TIMBERG: I think so. There’s no way, really, to know how vulnerable you are. There have been just so many hacks. And so much information has spilled out over the past few years that to think that you weren’t vulnerable is probably naive. On the other hand, this does kind of feel like the big one, right? I mean more than half of all American adults seem to have been caught up in this. So, you know, if I wasn’t – (laughter) if my information isn’t out there, my wife’s information probably is.

    TIMBERG: So, yeah. It’s terrifying.

    GREENE: Any advice that that experts are giving for what to do now if you think that you might’ve been hacked and part of this?

    TIMBERG: You know, the main thing is to keep an eye on things like your – you know, on your credit card reports and things like that to make sure weird charges don’t show up. It’s also good – you know, there are these credit monitoring services that Equifax, in fact, sells and is offering everybody for free for the next year. But I don’t know. I feel pretty powerless, to be honest. I don’t know what I’m supposed to do to protect myself.

    GREENE: Yeah. No, it’s getting to that point. And we have no idea who did this, – right? – as of now.

    TIMBERG: No, not yet. I mean, we presume the FBI has been on this for at least a few weeks. They’re pretty good. But let’s say they find, you know, someone in Belarus who pulled off this hack. It’s not like our credit information or, I mean, credit card information or Social Security numbers are suddenly going to come back into the protected zone.

    GREENE: Right. The hackers are not going to hand it back and say, we’re sorry.

    TIMBERG: No, I don’t think so.

    GREENE: Craig Timberg is national technology reporter for The Washington Post – talking to us about this huge hack at Equifax, which may have made vulnerable the information of upwards of 143 million Americans, which is a lot of people. Craig, thank you.

    TIMBERG: Thank you, David.

    (SOUNDBITE OF JON HOPKINS’ “OPEN EYE SIGNAL”)

    Copyright 2017 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

    NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR s programming is the audio record.





    New York governor wants credit-reporting firms to follow cyber rules, Reuters, three credit reporting agencies.#Three #credit #reporting #agencies

    New York governor wants credit-reporting firms to follow cyber rules

    WASHINGTON/NEW YORK (Reuters) – New York Governor Andrew Cuomo said on Monday that he wants credit-reporting firms to comply with the state s cyber-security regulations, the latest government official to crack down on the industry in the wake of the massive Equifax hack.

    Also on Monday, Bloomberg News reported that federal authorities have opened a criminal probe into stock sales by three Equifax Inc ( EFX.N ) executives before the company disclosed the massive data breach, news that has weighed heavily on the stock price.

    The company has said the executives were unaware of the hack when they sold the stock for $1.8 million.

    Equifax s legal woes worsened as the U.S Attorney s office in Atlanta issued a statement saying it was working with the FBI on a criminal investigation into the breach and theft of personal information.

    Equifax shares rose 1.5 percent on Monday after losing about a third of their value since the hack was announced. The Equifax breach discovered on July 29 exposed sensitive data like Social Security numbers of up to 143 million people.

    Cuomo said he planned to require all credit-reporting agencies to register with the state and comply with its cyber-security rules.

    The proposed regulation would take effect in February, Cuomo said in a statement. If the companies do not register, they risk being barred from doing business with financial companies regulated by New York state.

    The state would be able to bar credit-reporting agencies, including TransUnion ( TRU.N ) and Experian Plc ( EXPN.L ), as well as Equifax, from doing business in New York if the state found they engaged in unfair, deceptive or predatory practices, Cuomo said.

    The Equifax breach was a wake-up call, Cuomo said. And with this action, New York is raising the bar for consumer protections that we hope will be replicated across the nation.

    Proposed regulations are typically subject to a period for public comment before they become final.

    A New York state cyber-security regulation, the first of its kind in the United States, took effect on March 1. It requires financial firms to take measures to protect networks and customer data from hackers and disclose cyber events to regulators.

    Maine is the only U.S. state that requires credit agencies to register, said William Lund, superintendent of the Maine Bureau of Consumer Credit Protection. But its law does not cover cyber security, an issue the bureau will have to consider, Lund said.

    Maine, which has been registering credit-reporting agencies since the 1990s, has 30 such agencies on its roster, ranging from the largest to those dealing with everything from check approval to tenants rental histories, he added.

    The three credit-reporting agencies did not respond to requests for comment on Cuomo s plan.

    Bloomberg reported on Monday that the U.S. Justice Department is investigating whether Equifax s chief financial officer, John Gamble, and two other executives broke insider-trading rules by selling stock after the breach was discovered in July and weeks before it was disclosed this month.

    Reuters was not able to confirm the Bloomberg report.

    Separately, the company issued a statement saying a second Bloomberg report late on Monday about a second cyber attack in March referred to a breach at Equifax payroll unit that was previously reported to regulators, customers and consumers and also been covered by the press.

    Equifax complied fully with all consumer notification requirements related to the March incident. The two events are not related, the statement said.

    Reporting by Diane Bartz and Suzanne Barlyn; Additional reporting by Sarah N. Lynch, David Shepardson and Dustin Volz; Editing by Jim Finkle, Leslie Adler and Michael Perry





    Here – s Why I Hate Credit Reporting Agencies, three credit reporting agencies.#Three #credit #reporting #agencies

    Here s Why I Hate Credit Reporting Agencies — And Why You Should Too

    A few days ago, Equifax, one of the Big Three credit reporting agencies, admitted that the personal data of 143 million consumers had been compromised. This is not the biggest data breach ever, but it might be the worst. After all, Equifax is not just any company. It s a company whose main job is collecting masses of private financial data—and it does this even though it has neither a business relationship nor explicit permission from the people it monitors. This is a massive and unprecedented FUBAR.

    (For more on why the Equifax breach is even worse than you think, Michael Hiltzik explains here.)

    Three credit reporting agencies

    I am no fan of the credit reporting business, one of the most arrogant and anti-consumer industries imaginable. Twelve years ago I wrote about them for the Washington Monthly, and it s startling how little has changed since then. I could republish the story today with only the most cursory changes.

    For example, part of my piece was devoted to credit freezes, something you may have heard a lot about lately. This is an action you can take to protect yourself in case of identify theft: if you ask for your account to be frozen, credit agencies will furnish a credit report only after they ve confirmed that it really is you who applied for credit. This stops identity thieves in their tracks: if they apply for a credit card in your name, the credit agency will call you first. When you tell them you never applied for the card, it doesn t get issued.

    But this really shouldn t be an option you have to request. It should be routine for all credit transactions. The reason it isn t is because it s inconvenient for the credit reporting agencies, who have fought regulation on this topic tooth and nail. It s also because they literally make money on identify theft—no, that s not a typo—and therefore don t have much incentive to do anything about it.

    Still, as much as I think all accounts should be frozen by default, my solution to the problem of identity theft isn t to force the credit reporting agencies to freeze or unfreeze accounts—or to force them to do anything else. It s to make them responsible for all damages related to identity theft and then let them figure out the best solution. Here s what I wrote in my Monthly piece:

    There is a successful precedent for this type of approach. In 1968, Congress passed the Truth in Lending Act, which imposed a variety of regulations on the lending industry. One notably simple provision was that consumers could be held liable for no more than $50 if their credit cards were stolen and used without their authorization. For anything above that, it was the credit-card issuer who had to pay. The result was predictable: Credit-card companies have since taken it upon themselves to develop a wide range ofeffective anti-fraud programs. Congress didn t tell them to do it, or even how. It just made them responsible for the losses, and the card issuers did the rest themselves.

    The same method should be used for identity theft. There s no need to create mountains of regulations, which are uniformly despised by the credit industry. Instead, simply make the industry itself—and any institution that handles personal data—liable for the losses in both time and money currently borne by consumers. The responsible parties will do the rest themselves.

    There s more to say about this, but sadly, my piece is no longer available at the Monthly site. The great linkrot plague has devoured it. Luckily, I m a magazine packrat and I still have a dead-tree copy. So I scanned it and turned it into a PDF. Click here to read it—and to find out just why I hate the credit reporting agencies so intensely. It s worth your time, especially considering how little has been done about this over the past decade. It represents one of the all-time abject surrenders to Big Finance, and it s something the Elizabeth Warren wing of the Democratic Party should be all over. The time for small-bore proposals is over. It s time to make the credit agencies—and others—pay for their flagrantly careless behavior. When they allow someone to steal your identity, they re the ones who should pay the price, not you.

    UPDATE: The Wayback Machine also has a copy of my article. I shoulda checked! Click here to see it.

    Get the scoop, straight from Mother Jones.
    • Previous: American Hospitals are Ungodly Expensive
    • Next: Chart of the Day: Household Income Finally Beats 1999 Record
    • Three credit reporting agencies





    Getting Credit Reports From Specialty Consumer Reporting Agencies, free credit reporting agencies.#Free #credit #reporting #agencies

    Getting Credit Reports From Specialty Consumer Reporting Agencies

    Besides the three nationwide credit reporting agencies, there are also a number of nationwide specialty credit reporting agencies (also called specialty consumer reporting agencies). Getting your report from one of these agencies involves a different process than if you are requesting a report from Equifax, Experian, or Transunion.

    (To learn more about credit reports and scores, and how to get them, see Credit Reports Credit Scores.)

    What Is a Specialty Consumer Reporting Agency?

    A specialty consumer reporting agency keeps records on particular types of transactions, such as

    • tenant histories
    • insurance claims
    • medical records or payments
    • employment histories, or
    • check writing.

    How to Get a Report From a Specialty Consumer Reporting Agency

    In addition to your yearly free credit report from each of the regular nationwide credit reporting agencies, you are also entitled to a free credit report each year from each of the nationwide specialty credit reporting agencies.

    To get your report, you must contact each agency individually you may even need to call different phone numbers for different types of reports from the same agency. Unfortunately, you may not know which reporting agency a landlord, employer, or insurance company uses.

    Major Nationwide Specialty Credit Reporting Agencies

    Here are some of the main nationwide specialty credit reporting agencies and their contact information:

    Lexis Nexis Personal Reports. For a tenant history report, call 877-448-5732, for an insurance claims report, call 866-312-8076, and for an employment history report, call 866-312-8075. To get all the information the agency has on you, mail in the request form available on its website at https://personalreports.lexisnexis.com.

    Medical Information Bureau. For a medical history report if you have private health insurance, go to www.mib.com, or call 866-692-6901.

    ISO. For an insurance claims report, go to www.iso.com, and search for “A-PLUS loss-history report, or call 800-627-3487.

    Telecheck. For a check writing report go to www.firstdata.com or call 1-800-366-2425.

    ChexSystems. For a check writing report go to www.consumerdebit.com or call 800-428-9623.

    Certegy. For a check writing report go to www.askcertegy.com or call 866-543-6315.

    In addition, you can find a list of most credit reporting agencies in the country and their contact information, divided by type (medical, employment, tenant, insurance, and the like), on the Consumer Financial Protection Bureau s website at www.consumerfinance.gov. Search for how many consumer reporting companies are there, and follow the link to the list. (Not all of the companies on the list provide free reports. If a company, such as a nationwide credit reporting agency or a specialty credit reporting agency, does provide one free report per year, the list will say so.)

    This is an excerpt from Credit Repair , by Margaret Reiter and Robin Leonard (Nolo).





    Consumer Data Industry Association – Metro 2 – Metro 2® Format for Credit Reporting, credit reporting companies.#Credit #reporting #companies

    Metro 2® Format for Credit Reporting

    Download Instructions for the Metro 2 Format

    If your company furnishes consumer credit account data on a regular basis to credit reporting agencies, you have duties under the Fair Credit Reporting Act (FCRA) to correct and update that consumer credit history information.

    To assist data furnishers (such as banks, credit unions, consumer credit card companies, retailers, and auto finance companies) in this process, the credit reporting industry has adopted a standard electronic data reporting format called the Metro 2 Format.

    Access to the Metro 2 Format is limited to employees of (a) companies that furnish data to consumer reporting agencies in either the MetroTM or Metro 2 Format, (b) data processors who furnish data to consumer reporting agencies in either the MetroTM or Metro 2 Format, (c) software vendors who provide MetroTM or Metro 2 programming software, and (d) consumer reporting agencies that accept or transmit data in the MetroTM or Metro 2 Format.

    To access the Metro 2 Format you must log in to your CDIA account. If you are not a registered user you will need to first create a CDIA account. For additional guidance on accessing your CDIA account, please visit FAQ2 and FAQ3 in the CDIA Account Access Guide.

    After you are logged in, follow the steps below:

    • If CDIA recognizes your login as a Metro 2 approved user you will be brought to the Metro 2 Access Agreement. Review the agreement and select I Accept . You will be given immediate access to the Metro 2 Format documents. In the future you may return to the Metro 2 documents by logging in to your CDIA account and clicking on Metro 2 Access on the My Account dashboard page.

  • If CDIA does not recognize your login as being a Metro 2 approved user you will be brought to the No Access page.
    • Review the Metro 2 Access Policy and select Continue
    • Follow the instructions on how to download the Metro 2 Format by calling one of the listed phone numbers to obtain a one-time username and password.
    • Enter the one-time username and password to log in.
    • Carefully read and accept the Metro 2 Access Agreement for immediate access to the Metro 2 Format documents.
    • In the future you may return to the Metro 2 documents by logging into your CDIA account and clicking on Metro 2 Access on the My Account dashboard page.
  • Special Note to Software Vendors

    CDIA strongly recommends all software vendors to beta test a sampling of your customers’ data with each consumer reporting agency prior to mass distribution of software to ensure Metro 2 standards have been met. Refer to the Implementation Checklist in the Credit Reporting Resource Guide ; section 8, for details.

    Thorough testing of your software version of the Metro 2 Format prevents costly changes, redistribution of your software and customer delays in reporting.

    If you have any questions regarding the Metro 2 Format, contact your consumer reporting agency contacts.





    Here – s Why I Hate Credit Reporting Agencies, what are the three credit reporting agencies.#What #are #the #three #credit #reporting #agencies

    Here s Why I Hate Credit Reporting Agencies — And Why You Should Too

    A few days ago, Equifax, one of the Big Three credit reporting agencies, admitted that the personal data of 143 million consumers had been compromised. This is not the biggest data breach ever, but it might be the worst. After all, Equifax is not just any company. It s a company whose main job is collecting masses of private financial data—and it does this even though it has neither a business relationship nor explicit permission from the people it monitors. This is a massive and unprecedented FUBAR.

    (For more on why the Equifax breach is even worse than you think, Michael Hiltzik explains here.)

    What are the three credit reporting agencies

    I am no fan of the credit reporting business, one of the most arrogant and anti-consumer industries imaginable. Twelve years ago I wrote about them for the Washington Monthly, and it s startling how little has changed since then. I could republish the story today with only the most cursory changes.

    For example, part of my piece was devoted to credit freezes, something you may have heard a lot about lately. This is an action you can take to protect yourself in case of identify theft: if you ask for your account to be frozen, credit agencies will furnish a credit report only after they ve confirmed that it really is you who applied for credit. This stops identity thieves in their tracks: if they apply for a credit card in your name, the credit agency will call you first. When you tell them you never applied for the card, it doesn t get issued.

    But this really shouldn t be an option you have to request. It should be routine for all credit transactions. The reason it isn t is because it s inconvenient for the credit reporting agencies, who have fought regulation on this topic tooth and nail. It s also because they literally make money on identify theft—no, that s not a typo—and therefore don t have much incentive to do anything about it.

    Still, as much as I think all accounts should be frozen by default, my solution to the problem of identity theft isn t to force the credit reporting agencies to freeze or unfreeze accounts—or to force them to do anything else. It s to make them responsible for all damages related to identity theft and then let them figure out the best solution. Here s what I wrote in my Monthly piece:

    There is a successful precedent for this type of approach. In 1968, Congress passed the Truth in Lending Act, which imposed a variety of regulations on the lending industry. One notably simple provision was that consumers could be held liable for no more than $50 if their credit cards were stolen and used without their authorization. For anything above that, it was the credit-card issuer who had to pay. The result was predictable: Credit-card companies have since taken it upon themselves to develop a wide range ofeffective anti-fraud programs. Congress didn t tell them to do it, or even how. It just made them responsible for the losses, and the card issuers did the rest themselves.

    The same method should be used for identity theft. There s no need to create mountains of regulations, which are uniformly despised by the credit industry. Instead, simply make the industry itself—and any institution that handles personal data—liable for the losses in both time and money currently borne by consumers. The responsible parties will do the rest themselves.

    There s more to say about this, but sadly, my piece is no longer available at the Monthly site. The great linkrot plague has devoured it. Luckily, I m a magazine packrat and I still have a dead-tree copy. So I scanned it and turned it into a PDF. Click here to read it—and to find out just why I hate the credit reporting agencies so intensely. It s worth your time, especially considering how little has been done about this over the past decade. It represents one of the all-time abject surrenders to Big Finance, and it s something the Elizabeth Warren wing of the Democratic Party should be all over. The time for small-bore proposals is over. It s time to make the credit agencies—and others—pay for their flagrantly careless behavior. When they allow someone to steal your identity, they re the ones who should pay the price, not you.

    UPDATE: The Wayback Machine also has a copy of my article. I shoulda checked! Click here to see it.

    Get the scoop, straight from Mother Jones.
    • Previous: American Hospitals are Ungodly Expensive
    • Next: Chart of the Day: Household Income Finally Beats 1999 Record
    • What are the three credit reporting agencies





    What Is the Fair Credit Reporting Act, what is fair credit reporting act.#What #is #fair #credit #reporting #act

    What Is the Fair Credit Reporting Act?

    The Fair Credit Reporting Act (FCRA) is a federal law that governs how a credit reporting agency (CRA) handles your credit information. It is designed to protect the integrity and privacy of your credit information. The FCRA requires credit reporting agencies–and the entities that report your credit information to them and others–to ensure that your information is fair and accurate, and kept private. The FCRA protects your right to access and correct any inaccuracies in your credit report and provides you with remedies if a credit reporting agency or information furnisher violates your rights.

    For articles on your credit report, credit score, cleaning up your credit report, and more, see Nolo’s Credit Repair topic area.

    Who/What is a CRA?

    A CRA is any entity that collects and furnishes credit information about you. A common type of CRA is a credit bureau, such as Transunion, Equifax or Experian. A CRA also includes a company or person who collects and sells your credit information (often in the form of background checks) to landlords, employers, or anyone else who makes a credit decision about you.

    Obligations of a CRA

    A CRA is obligated to:

    upon your request, provide you with the information it has on file about you (called your file disclosure ), often for free (to learn how to get your credit report, see Credit Reports Credit Scores)

    provide you with your credit score upon your request (you’ll most likely have to pay a fee; see Credit Reports Credit Scores )

    investigate disputed credit information in your file (there are a few exceptions to this rule; see When the CRA Does Not Have to Investigate Your Complaint.)

    correct or delete any inaccurate, incomplete, or unverifiable information within 30 days of the receiving notice of your dispute (for more on this, see How to Correct Errors on Your Credit Report)

    refrain from reporting old credit information, usually more than seven to ten years old (see How Long Does Negative Information Stay on Your Credit Report)

    limit disclosure of your credit file to third parties who have a valid need (such as a creditor, landlord, or employer), and

    withhold disclosure of your credit information to employers unless you consent.

    Who/What is an Information Supplier?

    An information supplier is any entity that submits your credit information to a CRA. Usually, that means your creditor. But it could also mean any other third party that you have even a loose credit relationship with, such as a government entity to whom you owe taxes, costs, or fines.

    Obligations of an Information Supplier

    Under the FCRA, your creditor and any other information supplier:

    must not report to a CRA any information about you that it knows — has reasonable cause to know — is inaccurate

    has a duty to promptly update and correct any inaccurate information that it previously supplied to the CRA

    must tell you about any negative credit information it reports to a CRA within 30 days

    must notify the CRA when you voluntarily close an account with it, and

    must maintain a reasonable procedure to respond to identity theft notices by a CRA, and refrain from reporting information about an account that you previously reported was the result of identity theft.

    If you dispute the inaccurate information with your creditor, in writing, it cannot continue to report the wrong information to the CRA until it investigates. It must also notify the CRA of your dispute.

    Users of Credit Information

    In addition to CRAs and your creditors, anyone who uses your credit information for employment, credit, or insurance purposes is covered by the FCRA. They must:

    notify you if they turn you down based on what they found in your credit report, and

    identify the CRA or information supplier who provided the report.





    Fair Credit Reporting Act (FCRA), what is fair credit reporting act.#What #is #fair #credit #reporting #act

    Fair Credit Reporting Act (FCRA)

    Para informacion en espanol, visite www.consumerfinance.gov/learnmore o escribe a la Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, D.C. 20552.

    A Summary of Your Rights under the Fair Credit Reporting Act

    The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). Here is a summary of your major rights under the FCRA. For more information, including information about additional rights, go to www.consumerfinance.gov/learnmore or write to: Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, D.C. 20552.

    You must be told if information in your file has been used against you. Anyone who uses a credit report or another type of consumer report to deny your application for credit, insurance, or employment or to take another adverse action against you must tell you, and must give you the name, address, and phone number of the agency that provided the information.

    You have the right to know what is in your file. You may request and obtain all the information about you in the files of a consumer reporting agency (your file disclosure ). You will be required to provide proper identification, which may include your Social Security number. In many cases, the disclosure will be free. You are entitled to a free file disclosure if:

    • a person has taken adverse action against you because of information in your credit report;
    • you are the victim of identity theft and place a fraud alert in your file;
    • your file contains inaccurate information as a result of fraud;
    • you are on public assistance;
    • you are unemployed but expect to apply for employment within 60 days.

    In addition, all consumers are entitled to one free disclosure every 12 months upon request from each nationwide credit bureau and from nationwide specialty consumer reporting agencies. See www.consumerfinance.gov/learnmore for additional information.

    You have the right to ask for a credit score. Credit scores are numerical summaries of your creditworthiness based on information from credit bureaus. You may request a credit score from consumer reporting agencies that create scores or distribute scores used in residential real property loans, but you will have to pay for it. In some mortgage transactions, you will receive credit score information for free from the mortgage lender.

    You have the right to dispute incomplete or inaccurate information. If you identify information in your file that is incomplete or inaccurate, and report it to the consumer reporting agency, the agency must investigate unless your dispute is frivolous. See www.consumerfinance.gov/learnmore for an explanation of dispute procedures.

    Consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable information. Inaccurate, incomplete or unverifiable information must be removed or corrected, usually within 30 days. However, a consumer reporting agency may continue to report information it has verified as accurate.

    Consumer reporting agencies may not report outdated negative information. In most cases, a consumer reporting agency may not report negative information that is more than seven years old, or bankruptcies that are more than 10 years old.

    Access to your file is limited. A consumer reporting agency may provide information about you only to people with a valid need usually to consider an application with a creditor, insurer, employer, landlord, or other business. The FCRA specifies those with a valid need for access.

    You must give your consent for reports to be provided to employers. A consumer reporting agency may not give out information about you to your employer, or a potential employer, without your written consent given to the employer. Written consent generally is not required in the trucking industry. For more information, go to www.consumerfinance.gov/learnmore.

    You may limit prescreened offers of credit and insurance you get based on information in your credit report. Unsolicited prescreened offers for credit and insurance must include a toll-free phone number you can call if you choose to remove your name and address from the lists these offers are based on. You may opt-out with the nationwide credit bureaus at 1 888 5OPTOUT (1 888 567 8688).

    You may seek damages from violators. If a consumer reporting agency, or, in some cases, a user of consumer reports or a furnisher of information to a consumer reporting agency violates the FCRA, you may be able to sue in state or federal court.

    Identity theft victims and active duty military personnel have additional rights. For more Information, visit www.consumerfinance.gov/learnmore.

    States may enforce the FCRA, and many states have their own consumer reporting laws. In some cases, you may have more rights under state law. For more information, contact your state or local consumer protection agency or your state Attorney General. For more information about your federal rights, contact:

    1.a. Banks, savings associations, and credit unions with total assets of over $10 billion and their affiliates.

    b. Such affiliates that are not banks, savings associations, or credit unions also should list in addition to the Bureau:

    a. Bureau of Consumer Financial Protection

    1700 G Street NW

    Washington, DC 20552

    b. Federal Trade Commission: Consumer Response Center – FCRA Washington, DC 20580

    2. To the extent not included in item 1 above:

    a. National banks, federal savings associations, and federal branches and federal agencies of foreign banks

    b. State member banks, branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act

    c. Nonmember Insured banks, Insured State Branches of Foreign Banks, and insured state savings associations

    a. Office of the Comptroller of the Currency

    Customer Assistance Group

    1301 McKinney Street, Suite 3450

    Houston, TX 77010-9050

    b. Federal Reserve Consumer Help Center

    Minneapolis, MN 55480

    c. FDIC Consumer Response Center

    1100 Walnut Street, Box #11

    Kansas City, MO 64106

    d. National Credit Union Administration

    Office of Consumer Protection (OCP)

    Division of Consumer Compliance and Outreach (DCCO)

    1775 Duke Street

    Alexandria, VA 22314

    Asst. General Counsel for Aviation Enforcement Proceedings

    Aviation Consumer Protection Division

    Department of Transportation

    1200 New Jersey Avenue SE

    Washington, DC 20590

    4. Creditors Subject to Surface Transportation Board

    Office of Proceedings, Surface Transportation Board

    Department of Transportation

    395 E Street, SW

    Washington, DC 20423

    5. Creditors Subject to Packers and Stockyards Act

    Nearest Packers and Stockyards Administration area supervisor

    6. Small Business Investment Companies

    Associate Deputy Administrator for Capital Access

    United States Small Business Administration

    409 Third Street, SW, 8th Floor

    Washington, DC 20416

    Securities and Exchange Commission

    Washington, DC 20549

    8. Federal Land Banks, Federal Land Bank Associations, Federal Intermediate Credit Banks, and Production Credit Associations

    Farm Credit Administration

    1501 Farm Credit Drive

    McLean, VA 22102-5090

    9. Retailers, Finance Companies, and All Other Creditors Not Listed Above

    FTC Regional Office for region in which the creditor operates or Federal Trade Commission: Consumer Response Center FCRA

    Washington, DC 20580

    Notification of Rights

    Review Your Free Experian Credit Report Today

    Good credit begins with knowing where your credit is today. Get started with your free Experian Credit Report, updated every 30 days on sign in. No credit card required.

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    Online Credit Reports, 3 Credit Scores, free credit reporting.#Free #credit #reporting

    All About Credit Reporting –

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    Free credit reportingFree credit reportingFree credit reporting

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    CreditReporting.com – How Can We Help You?

    At CreditReporting.com we help people understand the credit reporting process including how to obtain their credit reports and scores from all three national credit bureaus – Experian, Equifax, and Trans Union.

    • Provide comprehensive information to consumers to understand credit reporting and its related topics.
    • Feature the best products for consumers to obtain their credit reports, credit scores and credit monitoring online.
    • Provide enough information on the site to answer the most common credit reporting questions.
    • if we do not have the right answer for you, or you still do not understand a particular issue, contact us and we will do our best to point you in the right direction to obtain the information you need and the answers you seek.

    Click below for more information on these general areas:

    Credit Reports – The basis for most credit decisions, learn more about them here, including getting your free annual credit report.

    Credit Scores – It’s just a number, but it is very important to get it as high as you can if you are to get the best loans and terms.

    Credit Bureaus – Contact info and other important stuff about the credit companies, including the three national bureaus Equifax, Experian and TransUnion.

    Credit Laws – Know your rights plus learn the obligations of the companies keeping and using your data.

    Identity Theft – Anyone can be vulnerable to identity theft. Protect yourself, especially as data breaches become more and more common.

    5 Ways to Improve Your Credit Scores – This may be obvious to some, but these simple rules are the basis for good scores.

    – Pay your bills on time

    – Keep your credit balances low

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    – Keep your credit report accurate

    – Get your 3 credit reports

    – Dispute inaccurate items in writing

    – Dispute at all 3 bureaus

    – Follow-up to make sure reports are correct

    – Try credit monitoring for alerts of key changes





    A Layman s Guide to Fair Credit Reporting Act (FCRA) – Credit Reporting, the fair credit reporting act.#The #fair #credit #reporting #act

    Layman’s Guide to the Fair Credit Reporting Act (FCRA) by section:

    go to Section 605B.

  • Section 606В – One of the main point of this section on investigate consumer reports, like employment reports, is that there are required disclosures that must be made to consumers — go to Section 606.
  • Section 607В – Compliance section, which means that CRA’s must maintain reasonable procedures to avoid violating Section 604 and 605 of the Act, such as providing obsolete information or furnishing reports for non permitted purposes — go to Section 607.
  • Section 608В – When a government agency can see your report and what they can see — go to Section 608.
  • Section 609В – What must be disclosed to consumers upon request — go to Section 609.
  • Section 610В – To obtain your own report, consumers must provide identification, and disclosures must generally be in writing — go to Section 610.
  • Section 611В – Procedures when the consumer disputes the accuracy or completeness of an item in their file — go to Section 611.
  • Section 612В – Not all credit reports are free, some may incur a fee — go to Section 612.
  • Section 613В – CRA’s must be careful about furnishing public records for employment reports — go to Section 613.
  • Section 614В – Talks about investigative consumer reports and using information from an old report — go to Section 614.
  • Section 615В – Users and others who obtain consumer reports have important responsibilities — go to Section 615.
  • Section 616В – Dollar liability for those who willfully violate the Act — go to Section 616.
  • Section 617В – Liability for those who are negligent in failing to comply with the Act — Section 617.
  • Section 618В – Bring actions in US district courts within a specified time frame — go to Section 618.
  • Section 619В – Fines and potential imprisonment for obtaining information under false pretenses — go to Section 619.
  • Section 620В – Fines and potential imprisonment for the officers and employees of the CRA — go to Section 620.
  • Section 621В – The Federal Trade Commission is the main enforcer of the Act — Section 621.
  • Section 622В – Requirements regarding the reporting of overdue child support — go to Section 622.
  • Section 623В – Companies that report your credit information have important responsibilities — Section 623.
  • Section 624В – Governs affiliates who may have access to the report for marketing etc. — go to Section 624.
  • Section 625В – Does not exempt state laws except to extent state law is inconsistent with this law — go to Section 625.
  • Section 626В – The FBI has special rights to see your file — go to Section 626.
  • Section 627В – Counterterrorism has special rights to see your file — go to Section 627.
  • Section 628В – Properly dispose of consumer information to protect the confidentiality of the information — go to Section 628.
  • Section 629В – Prevents consumer reporting agencies from circumventing the law — Section 629.
  • The Fair Credit Reporting Act (FCRA) is designed to help ensure that CRAs (Consumer Reporting Agencies, including credit bureaus and credit reporting companies) furnish correct and complete information to businesses to use when evaluating your application for credit, or insurance, or to employers or prospective employers.

    Your rights under the Fair Credit Reporting Act include:

    • You have the right to receive a copy of your credit report. The copy of your report must contain all of the information in your file at the time of your request.
    • If you contest the completeness or accuracy of information in your report, you may file a dispute with the CRA and with the company that furnished the information to the CRA. Genrally both the CRA and the furnisher of information are legally obligated to reinvestigate your dispute as long as it is not frivolous.
    • CRA’s must correct or remove inaccurate, incomplete or unverifiable information in their files. CRA’s must remove obsolete information in their files.
    • If you are a victim of identity theft or are on active duty with the militar, you have more rights under the FCRA.
    • Only those with a permitted purpose or with your express permission may access your file.
    • Generally employers must have your express written permision to obtain your report.
    • Any company that denies your application, or takes an adverse action against you, based on information obtained from a CRA, must inform you of the adverse action and must supply you with the name and address of the CRA they used.
    • You have the right to a free copy of your credit report in numerous instances including when your application for credit or employment is adversely affected because of information supplied by the CRA. You can get a free credit report each year in any case.
    • You may opt-out of lists provided by the national credit bureaus that are based on your credit file.
    • You may sue under the FCRA for violations of the Act.
    • Credit scores are available to you on request from from mortgage credit agencies and sometimes from mortgage lenders. There may be a fee for the score.




    What Is the Fair Credit Reporting Act, the fair credit reporting act.#The #fair #credit #reporting #act

    What Is the Fair Credit Reporting Act?

    The Fair Credit Reporting Act (FCRA) is a federal law that governs how a credit reporting agency (CRA) handles your credit information. It is designed to protect the integrity and privacy of your credit information. The FCRA requires credit reporting agencies–and the entities that report your credit information to them and others–to ensure that your information is fair and accurate, and kept private. The FCRA protects your right to access and correct any inaccuracies in your credit report and provides you with remedies if a credit reporting agency or information furnisher violates your rights.

    For articles on your credit report, credit score, cleaning up your credit report, and more, see Nolo’s Credit Repair topic area.

    Who/What is a CRA?

    A CRA is any entity that collects and furnishes credit information about you. A common type of CRA is a credit bureau, such as Transunion, Equifax or Experian. A CRA also includes a company or person who collects and sells your credit information (often in the form of background checks) to landlords, employers, or anyone else who makes a credit decision about you.

    Obligations of a CRA

    A CRA is obligated to:

    upon your request, provide you with the information it has on file about you (called your file disclosure ), often for free (to learn how to get your credit report, see Credit Reports Credit Scores)

    provide you with your credit score upon your request (you’ll most likely have to pay a fee; see Credit Reports Credit Scores )

    investigate disputed credit information in your file (there are a few exceptions to this rule; see When the CRA Does Not Have to Investigate Your Complaint.)

    correct or delete any inaccurate, incomplete, or unverifiable information within 30 days of the receiving notice of your dispute (for more on this, see How to Correct Errors on Your Credit Report)

    refrain from reporting old credit information, usually more than seven to ten years old (see How Long Does Negative Information Stay on Your Credit Report)

    limit disclosure of your credit file to third parties who have a valid need (such as a creditor, landlord, or employer), and

    withhold disclosure of your credit information to employers unless you consent.

    Who/What is an Information Supplier?

    An information supplier is any entity that submits your credit information to a CRA. Usually, that means your creditor. But it could also mean any other third party that you have even a loose credit relationship with, such as a government entity to whom you owe taxes, costs, or fines.

    Obligations of an Information Supplier

    Under the FCRA, your creditor and any other information supplier:

    must not report to a CRA any information about you that it knows — has reasonable cause to know — is inaccurate

    has a duty to promptly update and correct any inaccurate information that it previously supplied to the CRA

    must tell you about any negative credit information it reports to a CRA within 30 days

    must notify the CRA when you voluntarily close an account with it, and

    must maintain a reasonable procedure to respond to identity theft notices by a CRA, and refrain from reporting information about an account that you previously reported was the result of identity theft.

    If you dispute the inaccurate information with your creditor, in writing, it cannot continue to report the wrong information to the CRA until it investigates. It must also notify the CRA of your dispute.

    Users of Credit Information

    In addition to CRAs and your creditors, anyone who uses your credit information for employment, credit, or insurance purposes is covered by the FCRA. They must:

    notify you if they turn you down based on what they found in your credit report, and

    identify the CRA or information supplier who provided the report.





    Credit Data Reporting Services for Data Furnishers, Reporting Credit Data to Experian, credit reporting agencies.#Credit #reporting #agencies

    Credit Data Reporting Services

    Customer Management

    For us, it s all about promoting a healthy credit eco-system for everyone.

    Reporting consumer data to credit bureaus is essential for your customers to reach their financial goals and imperative for you to grow your business. By reporting credit data to Experian, you can:

    • Reduce risky lending decisions With access to more comprehensive credit data, lenders have a more accurate picture of a consumer s behavior and can make more informed and less risky decisions.
    • Minimize delinquencies and collections Other credit grantors may offer credit to your customer, not knowing that the customer already has an obligation to you. This may result in your customer getting over-extended and negatively impact their ability to pay you.
    • Increase on-time payments and collect bad debt When customers know that their lenders report, they are more likely to pay on time. You can also encourage late payers to resolve outstanding debts before delinquency affects their credit.
    • Improve your customers experiences and cross-sell By reporting positive data about your customers, you can reward good behavior and extend additional credit for other products and services.
    • Align with regulatory expectations and industry best practices While credit data reporting is voluntary, you can align with regulatory priorities and best practices to help and protect the consumer throughout their financial journey.

    Reporting credit data to Experian is fast, simple and easy and we ll help you every step of the way. Call us: 1 800 831 5614, option 3

    For information on Experian s Business Data Reporting Program, please visit http://www.experian.com/datareportingbusiness

    Credit reporting agencies





    Who Are the Three Major Credit Bureaus, credit reporting agencies.#Credit #reporting #agencies

    Who Are the Three Major Credit Bureaus?

    Credit reporting agencies

    Credit bureaus, also called credit reporting agencies, are companies that collect and maintain consumer credit information then resell it to other businesses in the form of a credit report.

    There are many credit bureaus in the United States, but most people are familiar with the big three: Equifax, Experian, and TransUnion. These bureaus are all publicly-traded, for-profit companies who are not owned by the government.

    The government does, however, have legislation, the Fair Credit Reporting Act, regarding how these and other credit bureaus should operate.

    Credit bureaus have business relationships with many banks, credit card issuers, and other businesses that you may have an account with. Because of this connection, your account history will appear on one or all three of your credit reports with these bureaus.

    You have a right to view your credit report and you can order a free credit report from each of the three major credit bureaus each year through AnnualCreditReport.com. You can also purchase a credit report directly from any of the credit bureaus at any time. Two of the credit bureaus, Equifax and Experian, offer 3-bureau credit reports which include all three major credit reports in a single document.

    You may also need to contact a credit bureau directly to dispute inaccurate information in your credit report, purchase a credit score, or to place a fraud alert or security freeze on your credit report.

    Otherwise, you generally wouldn t interact with a credit bureau, even though they play a major role in your financial life.

    Contact Information For the Three Credit Bureaus

    Atlanta, GA 30374-0241

    Allen, TX 75013-0949

    Chester, PA 19022

    What the Three Bureaus Do and Don t Do

    The major credit bureaus receive credit-related information from companies that you do business with. They may also pull relevant public records, like tax lien or bankruptcy, and include that information in your credit report.

    The major credit bureaus sell your credit information to businesses who have a legally valid need for viewing your credit information. Your information is also sold to companies who may prescreen you for their products and services. For example, a company who you ve applied for credit with would have a valid need for looking at your credit report.

    The major credit bureaus only provide the information or other analytical tools to help businesses make decisions about which customers to accept and the price they should charge. The bureaus themselves do not make the decision.

    Credit Bureau Differences

    These three credit bureaus, like all other credit bureaus, are separate entities and operate independently of each other. They generally do not share your account information with each other.

    Your creditors may report to all three of the major credit bureaus or just one of them.

    Because of that, the information in your credit file may be different between the three credit bureaus.

    When potential creditors and lenders check your credit, they may only pull one bureau s credit report, rather than viewing all three. (It s often less expensive for businesses to check just one credit report.)

    Because your credit reports may be different from each other, it s important that you review your reports from all three bureaus.

    FICO Is Not a Credit Bureau

    FICO is another major company in the credit industry. FICO developed and maintains the FICO credit score, but it is not a credit bureau. While they compile your credit score based on data from the major credit bureaus, they do not collect credit report data on their own.

    Ready to start building wealth? Sign up today to learn how to save for an early retirement, tackle your debt, and grow your net worth.





    Who Are the Three Major Credit Bureaus, credit reporting bureaus.#Credit #reporting #bureaus

    Who Are the Three Major Credit Bureaus?

    Credit reporting bureaus

    Credit bureaus, also called credit reporting agencies, are companies that collect and maintain consumer credit information then resell it to other businesses in the form of a credit report.

    There are many credit bureaus in the United States, but most people are familiar with the big three: Equifax, Experian, and TransUnion. These bureaus are all publicly-traded, for-profit companies who are not owned by the government.

    The government does, however, have legislation, the Fair Credit Reporting Act, regarding how these and other credit bureaus should operate.

    Credit bureaus have business relationships with many banks, credit card issuers, and other businesses that you may have an account with. Because of this connection, your account history will appear on one or all three of your credit reports with these bureaus.

    You have a right to view your credit report and you can order a free credit report from each of the three major credit bureaus each year through AnnualCreditReport.com. You can also purchase a credit report directly from any of the credit bureaus at any time. Two of the credit bureaus, Equifax and Experian, offer 3-bureau credit reports which include all three major credit reports in a single document.

    You may also need to contact a credit bureau directly to dispute inaccurate information in your credit report, purchase a credit score, or to place a fraud alert or security freeze on your credit report.

    Otherwise, you generally wouldn t interact with a credit bureau, even though they play a major role in your financial life.

    Contact Information For the Three Credit Bureaus

    Atlanta, GA 30374-0241

    Allen, TX 75013-0949

    Chester, PA 19022

    What the Three Bureaus Do and Don t Do

    The major credit bureaus receive credit-related information from companies that you do business with. They may also pull relevant public records, like tax lien or bankruptcy, and include that information in your credit report.

    The major credit bureaus sell your credit information to businesses who have a legally valid need for viewing your credit information. Your information is also sold to companies who may prescreen you for their products and services. For example, a company who you ve applied for credit with would have a valid need for looking at your credit report.

    The major credit bureaus only provide the information or other analytical tools to help businesses make decisions about which customers to accept and the price they should charge. The bureaus themselves do not make the decision.

    Credit Bureau Differences

    These three credit bureaus, like all other credit bureaus, are separate entities and operate independently of each other. They generally do not share your account information with each other.

    Your creditors may report to all three of the major credit bureaus or just one of them.

    Because of that, the information in your credit file may be different between the three credit bureaus.

    When potential creditors and lenders check your credit, they may only pull one bureau s credit report, rather than viewing all three. (It s often less expensive for businesses to check just one credit report.)

    Because your credit reports may be different from each other, it s important that you review your reports from all three bureaus.

    FICO Is Not a Credit Bureau

    FICO is another major company in the credit industry. FICO developed and maintains the FICO credit score, but it is not a credit bureau. While they compile your credit score based on data from the major credit bureaus, they do not collect credit report data on their own.

    Ready to start building wealth? Sign up today to learn how to save for an early retirement, tackle your debt, and grow your net worth.





    Credit Bureau Reporting information at, credit reporting bureaus.#Credit #reporting #bureaus

    Credit Bureaus

    Credit Bureau Expertise

    In today’s highly competitive markets, lenders need to ensure that they are making the right credit decisions.

    Why Choose Experian?

    Mike Herman, Ford Credit Europe: ‘Their innovative products and services enable us to access the data and interpret it quickly and consistently.’

    Experian’s Bureau Formula

    Our approach to the development of a credit bureau is to harness the power of the data that is available in each market.

    The Experian Bureau Solution

    A credit bureau system needs to be tailored to the market and legal requirements relevant to the country where the solution is to be deployed.

    Value Added Products

    Value added products are available to exploit the potential of the bureau data.

    Experian’s Credit Bureau Expertise

    In today’s highly competitive markets, lenders need to ensure that they are making the right credit decisions. To achieve this, decisions need to be based on the most accurate and up-to-date information available.

    The Most Accurate Information

    Credit grantors around the world are benefiting from the information services provided by Experian’s international bureaus. These services range from a simple credit report to sophisticated risk and customer management tools, as well as fraud prevention solutions.

    Experian has a proven track of successful implementation and operation of consumer and commercial credit bureau solutions. Credit bureau systems operated by Experian are market leaders in the US, the UK, Brazil, South Africa, and within a number of European countries. Experian has also been proactively working within Africa, the Middle East and Asia-Pacific regions for several years, contributing to the delivery of bureau solutions in:

    Size Matters

    The scale of Experian’s business, significantly bigger than that of its competitors, supports the ability to invest consistently in the development of new, ground-breaking solutions. These ideas are then tailored and customized to the needs of the different markets, thanks to the presence of Experian offices in more than 40 countries worldwide, with over 15,000 employees supporting clients in approx. 65 countries.

    Experian’s credit bureau solutions can provide a complete service, helping credit grantors to make the right decisions, at the right time, throughout the customer life cycle.

    How to Succeed

    The success of a credit bureau solution depends on several factors:

    • the willingness and ability of the financial institutions to share data (with particular regard to positive credit accounts)
    • supportive and helpful data protection legislation, which may include a specific code of conduct for the Credit Bureau
    • data quality (and quantity)
    • robust, yet flexible, well designed infrastructure to offer capable data processing and delivery mechanisms
    • value added products and solutions to actively support the development of the credit market
    • close relationship with regulators, international organizations (e.g. World Bank), subscriber organizations and consumer associations

    The Bureau Operator needs to be provided with the right tools, knowledge and support to operate the bureau solution within a potentially complex scenario.

    Meeting the Unique Requirements of Each Market

    Experian works closely with credit grantors, legislators and relevant government authorities to provide a solution that meets the unique requirements of each individual market.

    For more information on our current operations in international markets, please see the enclosed fact sheet on Experian’s international bureau.

    I Want to Learn More

    Please complete the form below and we will contact you as soon as possible.





    Credit Reporting Agency Equifax Reveals Massive Hack: NPR, credit reporting agency.#Credit #reporting #agency

    Credit Reporting Agency Equifax Reveals Massive Hack

    NPR’s David Greene talks to Washington Post reporter Craig Timberg about the hacking of credit reporting agency Equifax. Hackers may have gained access to data from 143 million Americans.

    DAVID GREENE, HOST:

    Equifax, the big credit reporting agency, reports that it was hacked in May. Whoever did the hacking seems to have gained access to Social Security numbers, home addresses, driver’s licenses and a lot of other information for up to 143 million Americans. Craig Timberg covers technology for The Washington Post and joins us. Hey there, Craig.

    CRAIG TIMBERG: Hi David.

    GREENE: So if this took place in May, why are we just hearing about this now?

    TIMBERG: Boy, is that a great question?

    TIMBERG: Equifax says they discovered it on July 29, which, by my math, is about six weeks ago. And they have not answered my questions about why it took so long. I will say it’s not unusual for companies to wait a while. But, man, I might’ve wanted to know over the last six weeks that my Social Security number might’ve been kicked around on some dark website.

    GREENE: Yeah. I mean, isn’t there stuff you might’ve done, like, to protect yourself – or get new credit cards or something like that in all these weeks?

    TIMBERG: Potentially, yes – and for a lot of people, yes. This is an issue that Congress and some state legislators have looked at. But, in fact, there aren’t really any rules about how quickly and what kind of information companies need to disclose. And it’s a source of some frustration.

    GREENE: For everyone, including reporters who were trying to get information out of the company, it sounds like (laughter).

    GREENE: So if – let’s say you’re an American, and you were not already vulnerable to identity theft. Are there just tons more people now in the country who are going to be vulnerable because of this?

    TIMBERG: I think so. There’s no way, really, to know how vulnerable you are. There have been just so many hacks. And so much information has spilled out over the past few years that to think that you weren’t vulnerable is probably naive. On the other hand, this does kind of feel like the big one, right? I mean more than half of all American adults seem to have been caught up in this. So, you know, if I wasn’t – (laughter) if my information isn’t out there, my wife’s information probably is.

    TIMBERG: So, yeah. It’s terrifying.

    GREENE: Any advice that that experts are giving for what to do now if you think that you might’ve been hacked and part of this?

    TIMBERG: You know, the main thing is to keep an eye on things like your – you know, on your credit card reports and things like that to make sure weird charges don’t show up. It’s also good – you know, there are these credit monitoring services that Equifax, in fact, sells and is offering everybody for free for the next year. But I don’t know. I feel pretty powerless, to be honest. I don’t know what I’m supposed to do to protect myself.

    GREENE: Yeah. No, it’s getting to that point. And we have no idea who did this, – right? – as of now.

    TIMBERG: No, not yet. I mean, we presume the FBI has been on this for at least a few weeks. They’re pretty good. But let’s say they find, you know, someone in Belarus who pulled off this hack. It’s not like our credit information or, I mean, credit card information or Social Security numbers are suddenly going to come back into the protected zone.

    GREENE: Right. The hackers are not going to hand it back and say, we’re sorry.

    TIMBERG: No, I don’t think so.

    GREENE: Craig Timberg is national technology reporter for The Washington Post – talking to us about this huge hack at Equifax, which may have made vulnerable the information of upwards of 143 million Americans, which is a lot of people. Craig, thank you.

    TIMBERG: Thank you, David.

    (SOUNDBITE OF JON HOPKINS’ “OPEN EYE SIGNAL”)

    Copyright 2017 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

    NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR s programming is the audio record.





    Credit Reporting Agency Equifax Reveals Massive Hack: NPR, credit reporting agency.#Credit #reporting #agency

    Credit Reporting Agency Equifax Reveals Massive Hack

    NPR’s David Greene talks to Washington Post reporter Craig Timberg about the hacking of credit reporting agency Equifax. Hackers may have gained access to data from 143 million Americans.

    DAVID GREENE, HOST:

    Equifax, the big credit reporting agency, reports that it was hacked in May. Whoever did the hacking seems to have gained access to Social Security numbers, home addresses, driver’s licenses and a lot of other information for up to 143 million Americans. Craig Timberg covers technology for The Washington Post and joins us. Hey there, Craig.

    CRAIG TIMBERG: Hi David.

    GREENE: So if this took place in May, why are we just hearing about this now?

    TIMBERG: Boy, is that a great question?

    TIMBERG: Equifax says they discovered it on July 29, which, by my math, is about six weeks ago. And they have not answered my questions about why it took so long. I will say it’s not unusual for companies to wait a while. But, man, I might’ve wanted to know over the last six weeks that my Social Security number might’ve been kicked around on some dark website.

    GREENE: Yeah. I mean, isn’t there stuff you might’ve done, like, to protect yourself – or get new credit cards or something like that in all these weeks?

    TIMBERG: Potentially, yes – and for a lot of people, yes. This is an issue that Congress and some state legislators have looked at. But, in fact, there aren’t really any rules about how quickly and what kind of information companies need to disclose. And it’s a source of some frustration.

    GREENE: For everyone, including reporters who were trying to get information out of the company, it sounds like (laughter).

    GREENE: So if – let’s say you’re an American, and you were not already vulnerable to identity theft. Are there just tons more people now in the country who are going to be vulnerable because of this?

    TIMBERG: I think so. There’s no way, really, to know how vulnerable you are. There have been just so many hacks. And so much information has spilled out over the past few years that to think that you weren’t vulnerable is probably naive. On the other hand, this does kind of feel like the big one, right? I mean more than half of all American adults seem to have been caught up in this. So, you know, if I wasn’t – (laughter) if my information isn’t out there, my wife’s information probably is.

    TIMBERG: So, yeah. It’s terrifying.

    GREENE: Any advice that that experts are giving for what to do now if you think that you might’ve been hacked and part of this?

    TIMBERG: You know, the main thing is to keep an eye on things like your – you know, on your credit card reports and things like that to make sure weird charges don’t show up. It’s also good – you know, there are these credit monitoring services that Equifax, in fact, sells and is offering everybody for free for the next year. But I don’t know. I feel pretty powerless, to be honest. I don’t know what I’m supposed to do to protect myself.

    GREENE: Yeah. No, it’s getting to that point. And we have no idea who did this, – right? – as of now.

    TIMBERG: No, not yet. I mean, we presume the FBI has been on this for at least a few weeks. They’re pretty good. But let’s say they find, you know, someone in Belarus who pulled off this hack. It’s not like our credit information or, I mean, credit card information or Social Security numbers are suddenly going to come back into the protected zone.

    GREENE: Right. The hackers are not going to hand it back and say, we’re sorry.

    TIMBERG: No, I don’t think so.

    GREENE: Craig Timberg is national technology reporter for The Washington Post – talking to us about this huge hack at Equifax, which may have made vulnerable the information of upwards of 143 million Americans, which is a lot of people. Craig, thank you.

    TIMBERG: Thank you, David.

    (SOUNDBITE OF JON HOPKINS’ “OPEN EYE SIGNAL”)

    Copyright 2017 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

    NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR s programming is the audio record.





    Credit Reporting Agency Equifax Reveals Massive Hack: NPR, credit reporting agency.#Credit #reporting #agency

    Credit Reporting Agency Equifax Reveals Massive Hack

    NPR’s David Greene talks to Washington Post reporter Craig Timberg about the hacking of credit reporting agency Equifax. Hackers may have gained access to data from 143 million Americans.

    DAVID GREENE, HOST:

    Equifax, the big credit reporting agency, reports that it was hacked in May. Whoever did the hacking seems to have gained access to Social Security numbers, home addresses, driver’s licenses and a lot of other information for up to 143 million Americans. Craig Timberg covers technology for The Washington Post and joins us. Hey there, Craig.

    CRAIG TIMBERG: Hi David.

    GREENE: So if this took place in May, why are we just hearing about this now?

    TIMBERG: Boy, is that a great question?

    TIMBERG: Equifax says they discovered it on July 29, which, by my math, is about six weeks ago. And they have not answered my questions about why it took so long. I will say it’s not unusual for companies to wait a while. But, man, I might’ve wanted to know over the last six weeks that my Social Security number might’ve been kicked around on some dark website.

    GREENE: Yeah. I mean, isn’t there stuff you might’ve done, like, to protect yourself – or get new credit cards or something like that in all these weeks?

    TIMBERG: Potentially, yes – and for a lot of people, yes. This is an issue that Congress and some state legislators have looked at. But, in fact, there aren’t really any rules about how quickly and what kind of information companies need to disclose. And it’s a source of some frustration.

    GREENE: For everyone, including reporters who were trying to get information out of the company, it sounds like (laughter).

    GREENE: So if – let’s say you’re an American, and you were not already vulnerable to identity theft. Are there just tons more people now in the country who are going to be vulnerable because of this?

    TIMBERG: I think so. There’s no way, really, to know how vulnerable you are. There have been just so many hacks. And so much information has spilled out over the past few years that to think that you weren’t vulnerable is probably naive. On the other hand, this does kind of feel like the big one, right? I mean more than half of all American adults seem to have been caught up in this. So, you know, if I wasn’t – (laughter) if my information isn’t out there, my wife’s information probably is.

    TIMBERG: So, yeah. It’s terrifying.

    GREENE: Any advice that that experts are giving for what to do now if you think that you might’ve been hacked and part of this?

    TIMBERG: You know, the main thing is to keep an eye on things like your – you know, on your credit card reports and things like that to make sure weird charges don’t show up. It’s also good – you know, there are these credit monitoring services that Equifax, in fact, sells and is offering everybody for free for the next year. But I don’t know. I feel pretty powerless, to be honest. I don’t know what I’m supposed to do to protect myself.

    GREENE: Yeah. No, it’s getting to that point. And we have no idea who did this, – right? – as of now.

    TIMBERG: No, not yet. I mean, we presume the FBI has been on this for at least a few weeks. They’re pretty good. But let’s say they find, you know, someone in Belarus who pulled off this hack. It’s not like our credit information or, I mean, credit card information or Social Security numbers are suddenly going to come back into the protected zone.

    GREENE: Right. The hackers are not going to hand it back and say, we’re sorry.

    TIMBERG: No, I don’t think so.

    GREENE: Craig Timberg is national technology reporter for The Washington Post – talking to us about this huge hack at Equifax, which may have made vulnerable the information of upwards of 143 million Americans, which is a lot of people. Craig, thank you.

    TIMBERG: Thank you, David.

    (SOUNDBITE OF JON HOPKINS’ “OPEN EYE SIGNAL”)

    Copyright 2017 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

    NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR s programming is the audio record.





    Fair credit reporting, fair credit reporting.#Fair #credit #reporting

    FCRA Compliant Pre-Employment

    Screening, Tenant Screening,

    and Drug Testing

    You get the most accurate background data in an easy to read report.

    Industry Compliant Screening Reports

    We’ll Provide You With An Easy-to-Use Online Process and Fast Reliable Results.

    Fair credit reporting

    We provide FCRA and HUD compliant tenant screening services to property managers.

    • Instant Credit Scores, Reports, & Insights
    • County & National Criminal Searches
    • Nationwide Eviction Searches

    Fair credit reporting

    We can provide you with accurate, affordable and fast pre-employment background checks

    • Local & Federal Criminal Searches
    • Employment & Reference Verifications
    • Motor Vehicle Records & Report

    Fair credit reporting

    We help you identify substance abuse problems before they become your problem.

    • 20,000+ Collection Sites Across the U.S
    • MRO Review of Collection & Lab Results
    • Compliant with State & Federal Laws

    Screening services can vary dramatically, but it’s our approach that sets us apart.

    We’re committed to your long-term success, a trusted partner that’s in it for the long haul.

    Every background check is 100% compliant completed by our staff in-house. Responsive, dedicated pros that really care and prove it by signing their name on each report they touch.

    We handle education and job verifications via telephone to confirm the accuracy of an applicant’s information. Assurance at every step.

    Identify addiction issues before they become organizational problems. Implement ongoing screening, with chain of custody, to decrease downtime, absenteeism and more.

    A bad hire is costly.

    The loss of time and dollars is just the beginning. Bad hires and the wrong volunteers erode you customer relationships, threaten productivity, undermine culture and undo your good work.

    For businesses of all sizes, private, public or non-profit, pre-employment screening is the key to a safer, more secure workplace that sustains growth, optimizes opportunity and fosters good talent.

    Global Capacity – Personal Service

    Big enough to do it all, small enough to do it better.

    Our priority is to give you precisely what you need – never a preconceived product that fails to meet your needs

    Every background check is completed by our staff in-house. Every step of the way, a fully compliant process.

    You’ll see the difference in the very first phone call that’s answered by a live friendly voice.

    Reports summarizing our pre-employment screening, testing and applicant tracking services are rich with data.

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    Everyday, ScreeningOne helps businesses make the right choices

    What ScreeningOne Clients Say

    “I practically begged our client to let us use ScreeningOne over a third party screening vendor. The vendor is nowhere near as efficient and quick as ScreeningOne. Our company is nationwide, so the legal team has also been great in keeping us posted about the changes in various state laws to ensure our compliance.

    “Working with them has been a pleasure. Our industry is very fast paced and it’s important that our applicants experience a seamless process. They’ve provided a very easy and streamlined apply and hiring process for us. The level of customer service is exceptional. I can always call or email my representative and know that I will get an answer quickly.”





    A Layman s Guide to Fair Credit Reporting Act (FCRA) – Credit Reporting, what is the fair credit reporting act.#What #is #the #fair #credit #reporting #act

    Layman’s Guide to the Fair Credit Reporting Act (FCRA) by section:

    go to Section 605B.

  • Section 606В – One of the main point of this section on investigate consumer reports, like employment reports, is that there are required disclosures that must be made to consumers — go to Section 606.
  • Section 607В – Compliance section, which means that CRA’s must maintain reasonable procedures to avoid violating Section 604 and 605 of the Act, such as providing obsolete information or furnishing reports for non permitted purposes — go to Section 607.
  • Section 608В – When a government agency can see your report and what they can see — go to Section 608.
  • Section 609В – What must be disclosed to consumers upon request — go to Section 609.
  • Section 610В – To obtain your own report, consumers must provide identification, and disclosures must generally be in writing — go to Section 610.
  • Section 611В – Procedures when the consumer disputes the accuracy or completeness of an item in their file — go to Section 611.
  • Section 612В – Not all credit reports are free, some may incur a fee — go to Section 612.
  • Section 613В – CRA’s must be careful about furnishing public records for employment reports — go to Section 613.
  • Section 614В – Talks about investigative consumer reports and using information from an old report — go to Section 614.
  • Section 615В – Users and others who obtain consumer reports have important responsibilities — go to Section 615.
  • Section 616В – Dollar liability for those who willfully violate the Act — go to Section 616.
  • Section 617В – Liability for those who are negligent in failing to comply with the Act — Section 617.
  • Section 618В – Bring actions in US district courts within a specified time frame — go to Section 618.
  • Section 619В – Fines and potential imprisonment for obtaining information under false pretenses — go to Section 619.
  • Section 620В – Fines and potential imprisonment for the officers and employees of the CRA — go to Section 620.
  • Section 621В – The Federal Trade Commission is the main enforcer of the Act — Section 621.
  • Section 622В – Requirements regarding the reporting of overdue child support — go to Section 622.
  • Section 623В – Companies that report your credit information have important responsibilities — Section 623.
  • Section 624В – Governs affiliates who may have access to the report for marketing etc. — go to Section 624.
  • Section 625В – Does not exempt state laws except to extent state law is inconsistent with this law — go to Section 625.
  • Section 626В – The FBI has special rights to see your file — go to Section 626.
  • Section 627В – Counterterrorism has special rights to see your file — go to Section 627.
  • Section 628В – Properly dispose of consumer information to protect the confidentiality of the information — go to Section 628.
  • Section 629В – Prevents consumer reporting agencies from circumventing the law — Section 629.
  • The Fair Credit Reporting Act (FCRA) is designed to help ensure that CRAs (Consumer Reporting Agencies, including credit bureaus and credit reporting companies) furnish correct and complete information to businesses to use when evaluating your application for credit, or insurance, or to employers or prospective employers.

    Your rights under the Fair Credit Reporting Act include:

    • You have the right to receive a copy of your credit report. The copy of your report must contain all of the information in your file at the time of your request.
    • If you contest the completeness or accuracy of information in your report, you may file a dispute with the CRA and with the company that furnished the information to the CRA. Genrally both the CRA and the furnisher of information are legally obligated to reinvestigate your dispute as long as it is not frivolous.
    • CRA’s must correct or remove inaccurate, incomplete or unverifiable information in their files. CRA’s must remove obsolete information in their files.
    • If you are a victim of identity theft or are on active duty with the militar, you have more rights under the FCRA.
    • Only those with a permitted purpose or with your express permission may access your file.
    • Generally employers must have your express written permision to obtain your report.
    • Any company that denies your application, or takes an adverse action against you, based on information obtained from a CRA, must inform you of the adverse action and must supply you with the name and address of the CRA they used.
    • You have the right to a free copy of your credit report in numerous instances including when your application for credit or employment is adversely affected because of information supplied by the CRA. You can get a free credit report each year in any case.
    • You may opt-out of lists provided by the national credit bureaus that are based on your credit file.
    • You may sue under the FCRA for violations of the Act.
    • Credit scores are available to you on request from from mortgage credit agencies and sometimes from mortgage lenders. There may be a fee for the score.




    Getting Credit Reports From Specialty Consumer Reporting Agencies, free credit reporting agencies.#Free #credit #reporting #agencies

    Getting Credit Reports From Specialty Consumer Reporting Agencies

    Besides the three nationwide credit reporting agencies, there are also a number of nationwide specialty credit reporting agencies (also called specialty consumer reporting agencies). Getting your report from one of these agencies involves a different process than if you are requesting a report from Equifax, Experian, or Transunion.

    (To learn more about credit reports and scores, and how to get them, see Credit Reports Credit Scores.)

    What Is a Specialty Consumer Reporting Agency?

    A specialty consumer reporting agency keeps records on particular types of transactions, such as

    • tenant histories
    • insurance claims
    • medical records or payments
    • employment histories, or
    • check writing.

    How to Get a Report From a Specialty Consumer Reporting Agency

    In addition to your yearly free credit report from each of the regular nationwide credit reporting agencies, you are also entitled to a free credit report each year from each of the nationwide specialty credit reporting agencies.

    To get your report, you must contact each agency individually you may even need to call different phone numbers for different types of reports from the same agency. Unfortunately, you may not know which reporting agency a landlord, employer, or insurance company uses.

    Major Nationwide Specialty Credit Reporting Agencies

    Here are some of the main nationwide specialty credit reporting agencies and their contact information:

    Lexis Nexis Personal Reports. For a tenant history report, call 877-448-5732, for an insurance claims report, call 866-312-8076, and for an employment history report, call 866-312-8075. To get all the information the agency has on you, mail in the request form available on its website at https://personalreports.lexisnexis.com.

    Medical Information Bureau. For a medical history report if you have private health insurance, go to www.mib.com, or call 866-692-6901.

    ISO. For an insurance claims report, go to www.iso.com, and search for “A-PLUS loss-history report, or call 800-627-3487.

    Telecheck. For a check writing report go to www.firstdata.com or call 1-800-366-2425.

    ChexSystems. For a check writing report go to www.consumerdebit.com or call 800-428-9623.

    Certegy. For a check writing report go to www.askcertegy.com or call 866-543-6315.

    In addition, you can find a list of most credit reporting agencies in the country and their contact information, divided by type (medical, employment, tenant, insurance, and the like), on the Consumer Financial Protection Bureau s website at www.consumerfinance.gov. Search for how many consumer reporting companies are there, and follow the link to the list. (Not all of the companies on the list provide free reports. If a company, such as a nationwide credit reporting agency or a specialty credit reporting agency, does provide one free report per year, the list will say so.)

    This is an excerpt from Credit Repair , by Margaret Reiter and Robin Leonard (Nolo).





    Credit Report – Check Your Credit Rating or Score Today, the three credit reporting agencies.#The #three #credit #reporting #agencies

    The three credit reporting agenciesMoneySuperMarket.com

    Primary Navigation

    Do you know what your credit score is? Find out your credit rating and keep track of any changes to it. Not only will this improve your chances of being accepted for a credit card or loan, but you ll also be able to spot any suspicious activity on your credit file.

    The three credit reporting agencies

    Credit Reports, Monitoring & Identity Theft Protection

      • Provider/Product name The three credit reporting agencies

    Experian CreditExpert

    £14.99 per month

    Unlimited access to your Experian Credit Score and credit report

    Expert advice to help improve your Experian credit score

    The UK’s most trusted Credit Score (Source: ICMUnlimited survey, July 2016)

    Access to an award-winning UK Customer Contact Centre and dedicated Victim of Fraud Team

    Equifax

    £14.95 per month

    – 30 day FREE trial

    – Unlimited, easy online access to your latest Equifax Credit Report Score

    – Identity protection Be alerted if we find your details are shared on websites used by fraudsters

    – Telephone support 8am 8pm daily (except 25th 26th December)

    – Online help and dispute resolution

    Credit Angel

    £14.99 per month

    Easy to use site with unlimited FREE access to your credit score and report for 30 days

    See how your social media activity can affect your ability to gain credit

    Credit and Fraud alerts

    Tailored finance deals, savings and vouchers

    Comprehensive support from Credit Angel’s expert Customer Care Team

    Credit report

    You can boost your chances of being accepted for a credit card or loan by finding out your credit score first. Knowledge is power, so being in the know by being party to the same information as the lender, will place you in a much stronger position.

    Are you aware of what sort of information is held on your credit file? Unless you regularly check your file, the chances are you don t know, but finding out can help you work out the best ways to improve your rating.

    The information held on your credit file helps lenders to decide whether or not they will accept your credit card, mortgage, loan or even mobile phone contract application.

    If you know you ve made a few financial slip ups in the past and your credit score could be better, or you ve never borrowed and so haven t yet built up a credit history in the first place, there are steps you can take to improve your rating so you are more likely to be accepted if you want to take out a loan or apply for a credit card.

    Are you on the electoral roll?

    If you have registered to vote, then you should already be on the electoral roll at your current address. The electoral roll is used by many companies to check you are who you say you are, so they can ensure someone else isn t using your identity fraudulently to make credit applications in your name. If you’re not registered on the electoral roll, you ll need to get in touch with your local council and request a registration form, or alternatively you can register online.

    Are you already a borrower?

    It might sound odd, but if you ve never borrowed money before, lenders are likely to see this as a negative. They want to know that you can manage your money responsibly, and if you have never borrowed, this cannot be demonstrated. If you haven t ever had a credit card or loan, it may therefore be worth opening an account in order to create a credit history but make sure you repay what you owe and on time, otherwise you could end up with a black mark on your credit file.

    Check your credit rating

    Are you certain that the information held about you is absolutely right? It is worth checking your file to make sure that it does not contain details that are wrong and could restrict your chances of being accepted credit. You can get a copy of your credit report at our credit monitoring service. And if you find any inaccuracies you can apply to the relevant agency to get them changed.

    County Court Judgments (CCJs)

    If you’ve had a County Court Judgement against you which has now been settled, make sure this is recorded on your credit file, as having one which hasn t yet been settled can have a very negative impact on your credit rating. If your CCJ isn t showing up as being settled, ask the court to provide confirmation details and pass these on to the credit rating agencies.

    Don t make repeated applications

    If you are turned down for credit, don t be tempted to make lots of other applications elsewhere. These will leave a footprint on your credit file which could work against you as lenders might think you are desperate to borrow money, or that you are victim of identity fraud. Before making any credit application, get hold of a copy of your report so you know how strong your credit rating is, and only make applications for deals you are confident you will be accepted for.

    Change of circumstances

    If your personal situation has changed, for example, you ve got divorced or lost your job, and you are finding it difficult to make ends meet, you must let lenders know as soon as possible. You can put a Notice of Correction on your credit file explaining why you might have missed any payments. Lenders should take this into consideration when you make a credit application, particularly if you are able to show you have subsequently got back on track financially.

    Keep borrowing in check

    Don t max out your credit card. If you owe money on your card, you should try and ensure it isn t more than a third of your overall credit limit. If you often own much more than this, then lenders might start to worry about lending you any more money as they will be concerned you might not be able to keep up with repayments.

    Pay on time

    Make sure payments go out on time by setting up direct debits and standing orders wherever possible. It’s easy to forget a payment so setting up direct debits and standing orders with your bank will ensure payments go out on time. This will also ensure you won t be stung by any penalty charges or fees for paying late, which could have a negative impact on your credit rating.

    Shut down credit accounts you no longer use

    If you ve got credit cards or other credit accounts which you don t need any more, shut them down as soon as possible. When lenders look at your credit file, they focus on the total amount of credit available to you, as opposed to the amount you actually owe, so having lots of open accounts could reduce your credit rating.

    Pay on time

    Missing or late loan or credit card repayments will work against you and leave a black mark on your credit file. Make sure you always pay on time as this will show lenders that you are good at managing your money.

    Other factors which can have an impact

    As well as looking carefully at your credit history, when you apply for credit lenders will also want to check how long you have been a UK resident. If you have only recently moved here, you may have to wait at least three months before you apply for a credit card. You may also have to show proof of your income and provide evidence of employment.

    How our site works

    We want to show you as many credit reporting companies as possible, so you can choose the one that suits you best. We can t promise to show you every single company, because some don t want to be included on comparison websites. We ve ranked the companies according to the fee they pay us, from highest to lowest. This doesn t necessarily mean that the company at the top of the list is the best one for you make sure you compare them to find the one that suits you best. You can find out more about how we work here.





    Three Credit Bureaus Agencies, the three credit reporting agencies.#The #three #credit #reporting #agencies

    Information on the 3 National Credit Reporting Agencies or Credit Bureaus

    The 3 national credit reporting agencies in the United States are Equifax, Experian, and Trans Union. Experian was formerly known as TRW. A fourth national credit reporting agency named Innovis exists, but does not currently seem to factor into decisions for denials of credit, insurance or employment. It is more in a development stage.

    To contact the 3 national credit reporting agencies:

    The three national credit agencies may be contacted directly at:

    Equifax

    TransUnion

    Experian

    Atlanta, GA 30374

    Chester, PA 19022

    These national credit agencies are for-profit companies owned by their shareholders. They are not government entities or funded by the government. There are also independent, non-national, local credit bureaus throughout the country that are generally affiliated with one of the 3 national credit reporting agencies. Local bureaus are sometimes for-profit companies and sometimes non-profit associations of lender/members in a particular geographical area.

    The 3 national credit reporting agencies are competitors of each other, and they do not normally share their credit information except in special cases. That is why it is important to order a credit report from all three.

    Credit agencies or bureaus gather their consumer credit information by soliciting creditors such as credit card companies, banks, and lenders to join their systems and contribute their credit experience on consumers to the systems. In return for submitting information to the systems, creditor members may use the system to obtain credit information on consumers to approve credit decisions or review existing consumer accounts.

    Credit agencies are generally regulated by the Fair Credit Reporting Act (FCRA), which is the Federal law generally covering consumer reporting agencies including credit reporting in this country. Individual states may also have their own versions of the law.

    Under Federal law credit reporting companies known as CRAs (consumer reporting agencies) have numerous responsibilities to protect consumers and their credit information. A Summary of the FCRA is at http://www.creditreporting.com/fair-credit-reporting-act/index.html .

    Opt Out Number For List Sales by the National Credit Reporting Agencies

    IN COMPLIANCE WITH THE FAIR CREDIT REPORTING ACT OF 1996.

    The credit reporting industry has designated a single toll free number that will allow consumers to opt out of promotional mailing lists sold by credit reporting agencies. The system is an interactive voice mail that requests information necessary to opt out of such lists.

    Consumers should call (888) 5 OPT OUT and follow the voice prompt. Once the information is recorded, an e-mail is sent to the three bureaus daily and posted to consumer files. The number is available 24 hours a day.





    Credit Reporting Agency Equifax Reveals Massive Hack: NPR, credit reporting.#Credit #reporting

    Credit Reporting Agency Equifax Reveals Massive Hack

    NPR’s David Greene talks to Washington Post reporter Craig Timberg about the hacking of credit reporting agency Equifax. Hackers may have gained access to data from 143 million Americans.

    DAVID GREENE, HOST:

    Equifax, the big credit reporting agency, reports that it was hacked in May. Whoever did the hacking seems to have gained access to Social Security numbers, home addresses, driver’s licenses and a lot of other information for up to 143 million Americans. Craig Timberg covers technology for The Washington Post and joins us. Hey there, Craig.

    CRAIG TIMBERG: Hi David.

    GREENE: So if this took place in May, why are we just hearing about this now?

    TIMBERG: Boy, is that a great question?

    TIMBERG: Equifax says they discovered it on July 29, which, by my math, is about six weeks ago. And they have not answered my questions about why it took so long. I will say it’s not unusual for companies to wait a while. But, man, I might’ve wanted to know over the last six weeks that my Social Security number might’ve been kicked around on some dark website.

    GREENE: Yeah. I mean, isn’t there stuff you might’ve done, like, to protect yourself – or get new credit cards or something like that in all these weeks?

    TIMBERG: Potentially, yes – and for a lot of people, yes. This is an issue that Congress and some state legislators have looked at. But, in fact, there aren’t really any rules about how quickly and what kind of information companies need to disclose. And it’s a source of some frustration.

    GREENE: For everyone, including reporters who were trying to get information out of the company, it sounds like (laughter).

    GREENE: So if – let’s say you’re an American, and you were not already vulnerable to identity theft. Are there just tons more people now in the country who are going to be vulnerable because of this?

    TIMBERG: I think so. There’s no way, really, to know how vulnerable you are. There have been just so many hacks. And so much information has spilled out over the past few years that to think that you weren’t vulnerable is probably naive. On the other hand, this does kind of feel like the big one, right? I mean more than half of all American adults seem to have been caught up in this. So, you know, if I wasn’t – (laughter) if my information isn’t out there, my wife’s information probably is.

    TIMBERG: So, yeah. It’s terrifying.

    GREENE: Any advice that that experts are giving for what to do now if you think that you might’ve been hacked and part of this?

    TIMBERG: You know, the main thing is to keep an eye on things like your – you know, on your credit card reports and things like that to make sure weird charges don’t show up. It’s also good – you know, there are these credit monitoring services that Equifax, in fact, sells and is offering everybody for free for the next year. But I don’t know. I feel pretty powerless, to be honest. I don’t know what I’m supposed to do to protect myself.

    GREENE: Yeah. No, it’s getting to that point. And we have no idea who did this, – right? – as of now.

    TIMBERG: No, not yet. I mean, we presume the FBI has been on this for at least a few weeks. They’re pretty good. But let’s say they find, you know, someone in Belarus who pulled off this hack. It’s not like our credit information or, I mean, credit card information or Social Security numbers are suddenly going to come back into the protected zone.

    GREENE: Right. The hackers are not going to hand it back and say, we’re sorry.

    TIMBERG: No, I don’t think so.

    GREENE: Craig Timberg is national technology reporter for The Washington Post – talking to us about this huge hack at Equifax, which may have made vulnerable the information of upwards of 143 million Americans, which is a lot of people. Craig, thank you.

    TIMBERG: Thank you, David.

    (SOUNDBITE OF JON HOPKINS’ “OPEN EYE SIGNAL”)

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