experian

Experian Fined $3M, Accused Of Misleading Consumers About Usefulness Of Credit Scores

Experian Fined $3M, Accused Of Misleading Consumers About Usefulness Of Credit Scores

Two months after federal regulators fined two of the nation’s largest credit reporting agencies — Equifax and TransUnion — $23 million for misleading consumers about the cost and usefulness of credit monitoring services, the Consumer Financial Protection Bureau has announced a $3 million settlement with Experian over allegations that the credit agency misled consumers about the usefulness of the credit scores available for purchase. [More]

(Chris Blakeley)

Credit Reports Soon Won’t Include Some Tax Lien, Civil Judgment Data

Millions of consumers could soon see their FICO credit scores increase as the three credit reporting agencies — Equifax, Experian, and TransUnion — take another step to overhaul their systems by excluding certain negative information related to tax liens and civil judgments from credit reports. [More]

Xavier J. Peg

Calling Customer Service? An AI Is Picking The Agent That’s “Best” For You

Think back to the last time you had to call a real, live person in order to complete a purchase or have a problem resolved. How did it go? Did you and the customer service representative you spoke to have trouble understanding one another in some fundamental way? Or was it a smooth interaction, almost as if the CSR you spoke with was carefully hand-picked for you by robots?

If it’s the latter, it might be because the CSR you spoke with was in fact carefully hand-picked for you by robots. [More]

John Oliver Trolls Error-Prone Credit Bureaus With Horrible, Sound-Alike Companies

John Oliver Trolls Error-Prone Credit Bureaus With Horrible, Sound-Alike Companies

The three major credit reporting agencies — Equifax, Experian, and TransUnion — receive more complaints from consumers than most banks, primarily because these reports frequently contain errors and they make it incredibly difficult to resolve disputes. The credit industry seems to think its mistakes are within acceptable standards, but will they feel the same way when their brand names are facing similar odds for a disastrous mistake? [More]

Consumer, Privacy Groups Urge Federal Regulators To Investigate T-Mobile/Experian Hack

Consumer, Privacy Groups Urge Federal Regulators To Investigate T-Mobile/Experian Hack

A week after Experian revealed that hackers stole personal information for around 15 million consumers from a database of T-Mobile customers and applicants held by the credit reporting agency, a group of 25 consumer and privacy advocates are demanding that federal regulators open an investigation into the breach.
[More]

T-Mobile, Experian Data Breach Exposes Personal Info For 15M Consumers

T-Mobile, Experian Data Breach Exposes Personal Info For 15M Consumers

Some bad news to start off October — hackers stole personal information for around 15 million consumers from a database of T-Mobile customers and applicants that was held by Experian. [More]

Credit Bureaus, Bank Of America, Wells Fargo Top List Of Most Complained-About Financial Companies

Credit Bureaus, Bank Of America, Wells Fargo Top List Of Most Complained-About Financial Companies

The Consumer Financial Protection Bureau has released its latest report on the various complaints the agency has received about banks, lenders, debt collectors, and other financial services. Amid a sudden increase in the number of complaints involving credit report errors, the country’s largest credit bureaus now dominate the top of the CFPB’s list of most complained-about companies. [More]

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]

(Chris Goldberg)

Looking To Finance A New Or Used Vehicle? You’re Likely In For The Long-Haul

Purchasing a new or used vehicle can represent quite a commitment for consumers, especially as the length of an average vehicle loan continue to get longer, now reaching all-time highs. [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]

Report: 40 Million Consumers Have At Least One Student Loan

Report: 40 Million Consumers Have At Least One Student Loan

Increases in college tuition might have made sense during the brief boom years of the real estate bubble. But when the economy tanked and Americans struggled to recover, college costs continued to soar, resulting in even more students taking on loans to pay for their education. [More]

Bank Of America, Monsanto, Verizon Move On To Next Round Of Worst Company Competition

Bank Of America, Monsanto, Verizon Move On To Next Round Of Worst Company Competition

After three days of Worst Company In America voting, nine big businesses lie battered and bloody on the sandpaper mat of the WCIA Dodecahedron of Doom. But we are not here to mourn the fallen, but to hurl rotting fruit at the victors who survive to fight another day. [More]

Have Fun Breaking Down This Year’s Worst Company In America Bracket

Have Fun Breaking Down This Year’s Worst Company In America Bracket


The above bracket will be updated at the end of each day of WCIA competition to reflect that day’s results.
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After going through all of your nominations, then having y’all rank the contenders and eliminate the chaff from the wheat, we’re proud to present the first round match-ups for this year’s Worst Company in America tournament! [More]