Last week, the Consumer Financial Protection Bureau fined U.S. Bank $37.5 million for, among other things, opening customer accounts without permission. According to the Consumer Financial Protection Bureau, U.S. Bank illegally accessed customer credit reports and personal data to open deposit accounts, credit cards, and lines of credit without permission. While U.S.

When you are reviewing your background report and credit report, you should pay close attention to the names that appear at the beginning of those reports. Sometimes, credit bureaus and background reporting companies will include aliases, along with your given name. The inclusion of aliases can lead to significant problems. Credit bureaus

It’s simple to obtain free copies of your Equifax, Experian, and Trans Union credit reports. Log onto www.annualcreditreport.com and you can request a copy of each report. You should be able to view the reports online, but sometimes you will have to make a request through the mail. Once you have copies

But what happens when the credit reporting agency does not fix the inaccuracy following your dispute?  There are several options: Send a second dispute to the credit reporting agency.  A vague dispute is not helpful.  A credit report dispute letter should include as much detail as possible.  This can include sending documents

Buying a home is a major life event. It is one of the most significant financial decisions you will make, and it can be stressful.  Mortgage lenders will review your credit reports to determine if you qualify for a mortgage, and on what terms.  The better your credit history, the more likely

Equifax credit reports often are broken up into ten sections:  Summary, Revolving Accounts, Mortgage Accounts, Installment Accounts, Other Accounts, Consumer Statements, Personal Information, Inquiries, Public Records, and Collections. The Summary section provides an overall view into the credit report without getting into significant detail.  It typically shows the average age of a

YOUR CREDIT REPORTS SHOULD ONLY CONTAIN INFORMATION ABOUT YOU. Your credit reports play a critical role in your financial life.  They contain personal information about your credit activity, financial history, employment history, and other personal information.  Lenders use your credit reports to determine your eligibility for loans, interest rates, utility services, and

Have you been denied a loan because of your credit report, but you don’t know what is on your credit report?  Have you been denied a job because of a background report, but you have no idea what is in the background report?  Do you suspect that background reporting companies are reporting

When an eviction shows up on a tenant screening report, it can have devastating consequences.  It oftentimes can mean that a potential landlord is going to deny your application.  But sometimes an eviction shows up in a tenant screening report when the applicant actually has never been evicted.  What then? A federal

When Experian, Equifax, or Trans Union report inaccurate information to potential creditors, their errors can have devastating consequences.  Sometimes the potential creditor will raise the interest rate that you must pay because the error makes it look like your credit is worse than it actually is.  And sometimes the potential creditor will