Consumers’ Credit Reports Remain Substantially Inaccurate, According to Federal Lawmakers

4 out of 5 credit reports contain an error, and a quarter of those errors cause serious problems, according to today’s news from Washington. Yet the 2003 law that was supposed to make it easier for consumers to guard against identity theft and to freely access their credit reports is still not final. The Fair Credit Reporting Act’s 2003 amendments were supposed to make it easier for consumers to access and correct mistakes in their credit reports. But House Financial Services Committee members today criticized the FTC and the Federal Reserve for not implementing final rules from the 2003 law,...

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