John Oliver discussed consumers' problems with their credit reports back in April 2016. You can watch his presentation on YouTube.CONTINUE
Today, the 9th Circuit Court of Appeals issued an opinion in a FCRA case, Syed v. M-I, LLC that involves background reports employers obtain on prospective employees. The background reports are “consumer reports” like credit reports subject to the FCRA rules. The FCRA requires employers to give applicants a written disclosure that they plan to obtain a background report. The purpose for the disclosure is to give applicants the opportunity to block the employer from obtaining a report, a matter of privacy. The disclosure must be consist “solely of the disclosure.” The employer M-I tried to insulate it from FCRA...CONTINUE
This is the CFPB’s Announcement of a Very Significant Enforcement Action CONSUMER FINANCIAL PROTECTION BUREAU SUES NATION’S LARGEST STUDENT LOAN COMPANY NAVIENT FOR FAILING BORROWERS AT EVERY STAGE OF REPAYMENT Today the Consumer Financial Protection Bureau (CFPB) sued Navient, formerly Sallie Mae, the nation’s largest servicer of both federal and private student loans for systematically and illegally failing borrowers at every stage of repayment. For years, Navient has created obstacles to repayment by providing bad information, processing payments incorrectly, and failing to act when borrowers complained. Through shortcuts and deception, the company also illegally cheated many struggling borrowers out of...CONTINUE
The Consumer Financial Protection Bureau today announced it has taken action against Equifax and TransUnion for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The companies also lured consumers into costly recurring payments for credit-related products with false promises. The CFPB said that from 2011 to March 2014, TransUnion and Equifax falsely represented that the credit scores they marketed and provided to consumers were the same scores lenders typically use to make credit decisions. In fact, the scores were not typically used by lenders. Plus, TransUnion and Equifax falsely claimed that their credit...CONTINUE
CreditCards.com has a report on how scammers manager to steal your smartphone identity. If your phone mysteriously goes dead and your service provider tells you someone purchased and activated a new iPhone under your account, you are a victim of SIM-swapping. This means a fraudster posed as you convinced your cell phone company your phone was lost. The company then gives the fraudster a new phone number and the fraudster gets access to your mobile banking, credit cards and other accounts.CONTINUE
National Collegiate Trust is an umbrella name for 15 trust that hold 800,000 private student loans totaling $12 billion. More...
On June 20, 2017, the law firms of Francis & Mailman, P.C., Philadelphia, and Anderson, Ogilvie & Brewer, LLC, San...