How Much Is A Company That Knows All About Your Financial Behavior Worth? Turns Out A Lot.

How Much Is A Company That Knows All About Your Financial Behavior Worth? Turns Out A Lot.

It’s no secret that consumer financial data is valuable: it determines if you get better rates on loans and allows lenders to predict the likelihood you’ll pay back debts. While we can’t necessarily put a price tag on that data (yet), we now know that one of the largest companies to collect that information is worth a bundle – 4 billion bundles, in fact. [More]

Senator Pushes For System To Notify Consumers ‘The Moment Access To Their Credit Is Requested’

Senator Pushes For System To Notify Consumers ‘The Moment Access To Their Credit Is Requested’

It seems like every day, another retailer, service provider, or government agency falls victim to a data breach, and if a hacker uses that stolen info to open up a new line of credit in your name, you may not know until long after the fact. One lawmaker is hoping to curb identity theft by giving consumers a heads-up whenever their credit reports are accessed. [More]

Man Named God Reaches Settlement With Equifax, Finally Gets A Credit Score

Man Named God Reaches Settlement With Equifax, Finally Gets A Credit Score

You might recall a story from about a year back where a man with the first name “God” had a little dispute with credit-reporting agency Equifax, namely that the company wouldn’t recognize his moniker as legitimate. He’s now come out on top in his battle with Equifax, which has agreed he and his financial history do exist, and have granted him a shiny new credit score. [More]

(arsheffield)

FBI Opening Investigation Into IRS Breach That Affected 100,000 Taxpayers

After the news yesterday that the Internal Revenue Service reportedly suspects Russian identity thieves were behind a breach that allowed thieves to access information for approximately 100,000 taxpayers, the Federal Bureau of Investigation says it’s now investigating the incident. [More]

Credit Bureaus Must Pay $6M, Fix Errors More Quickly Under 31-State Agreement

Credit Bureaus Must Pay $6M, Fix Errors More Quickly Under 31-State Agreement

The three largest companies to collect and disseminate credit information for millions of Americans – Experian, Equifax and TransUnion – must significantly change the way they treat disputed information on credit reports as part of a massive multi-state settlement announced this week. [More]

(www.flickr.com/photos/33581199@N04/4231899887)

Nearly 26 Million American Adults Have No Credit History

While a recent survey found that nearly 35% of consumers have never pulled their credit report, a new report from the Consumer Financial Protection Bureau points out that some of those consumer might not have anything on their reports anyway. [More]

(20 buckz)

Nearly 35% Of Consumers Have Never Checked Their Credit Reports

While consumers are often urged to take advantage of the free once-a-year opportunity to request a credit report and make sure they aren’t riddled with errors, a new survey suggests many Americans simply aren’t heeding the suggestion. [More]

(Chris Blakeley)

FICO Expands Program To Give Millions Of Consumers Free Access To Credit Scores & Reports

Millions of financially struggling consumers who work with qualified nonprofit counseling agencies now have access to free credit scores and credit reports with the expansion of the FICO Score Open Access program. [More]

(Chris Blakeley)

Credit Bureaus Agree To Revamp Practices For Handling Errors, Unpaid Medical Bills

Experian, Equifax and TransUnion – the three largest companies to collect and disseminate credit information for millions of Americans – must undergo an overhaul of credit reporting practices as part of an agreement with the New York Attorney General’s Office. [More]

Man Named God Suing Equifax For Refusing To Believe He (And His Financial History) Exists

Man Named God Suing Equifax For Refusing To Believe He (And His Financial History) Exists

As if it’s not hard enough to go through life explaining why you share a name with a divine entity, a man called God is now suing credit-reporting agency Equifax claiming it refused to accept his name as a legitimate moniker. Basically, he’s trying to prove he exists. And along with that, of course, his credit history is also a real thing. [More]

(oldeastsidr)

Dear Equifax And Heartland Bank, I Am Not Dead

A 46-year-old woman near St. Louis would like to to refinance her mortgage and maybe get some new credit cards. She can’t, though. As far as her bank and the credit bureau Equifax are concerned, she’s dead. [More]

(backgroundgeo)

Data Miners Collect More Of Your Information Every Day; Good Luck Finding Out What They Know

Every time you use the internet, you leave a huge trail of information in your wake–and it’s not just your browser history full of cat videos.  Companies called data brokers are constantly collecting a thousand little nuggets of information behind you, adding them up into a profile of you, and selling the profiles for lots of money.  Data brokers still move in mysterious ways, leaving unanswered questions: how are they getting their data?  Who’s buying it?  And, perhaps most importantly: can you, the consumer, do anything about it? [More]

How To Not Suck… At Disputing Credit Report Errors

How To Not Suck… At Disputing Credit Report Errors

Like it or hate it, your credit report and credit score have lots of power. These may determine whether or not you’re approved for a mortgage, car loan, or other borrowing, and will determine the interest rates on your credit cards. This information is often even used when you’re evaluated for an apartment, insurance or a job, or try to get a bank account. That’s why it’s incredibly important to check your credit report for errors, as mistakes on your report can haunt every part of your financial life for years. [More]

Man Tries To Buy House, Finds Out He’s Dead & Married To A Woman He Never Met

Man Tries To Buy House, Finds Out He’s Dead & Married To A Woman He Never Met

We always recommend that you take advantage of your right to check your three credit reports once a year just because you never know what you might find. Like the California man who learned from Equifax that he’s been dead for a few years and also that he had a widow living 20 miles away. [More]

(frankieleon)

Companies That Furnish Info For Credit Reports Are Obligated To Investigate Disputes

More than 1-in-4 credit reports contain some sort of error, according to a recent Federal Trade Commission report, but one can’t lay all the blame at the feet of the three major credit bureaus — Experian, TransUnion, Equifax — as the companies that supply this information are not always fulfilling their legal obligation to investigate disputes by consumers. [More]

(Alec Peden)

Jury Awards Woman $18.6 Million In Battle With Equifax Over Credit Report Errors

There’s major consumer victory news from Oregon: a woman who discovered huge errors in her Equifax credit report and couldn’t get them fixed was awarded a total of $18.6 million in damages. She contacted Equifax eight times about the errors between 2009 and 2011, but they remained on her report. [More]

Worst Company In America Round 1: Ticketmaster Vs. Equifax

Worst Company In America Round 1: Ticketmaster Vs. Equifax


It’s another glorious day of carnage in the WCIA mosh pit, as a perennial Golden Poo also-ran takes on an unseasoned newbie in a battle to the last breath. [More]

(Alec Peden)

Bill Would Allow Consumers To Get Free Credit Score When Receiving Free Credit Reports

Right now, U.S. consumers can check each of their three credit reports — from TransUnion, Equifax, and Experian — once a year for free through AnnualCreditReport.com, but getting your actual credit score will probably cost you. Legislation introduced today seeks to remedy this issue. [More]