The Newest Addition to Your Credit Reports – Trended Data

By John Ulzheimer The credit reporting agencies (CRAs) have access to a lot of information about you. Some of that information is included on your credit reports and some of it is not. For example, although public criminal records are available to anyone (the CRAs included) that information is not

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The Most Important Form You’ve Never Heard Of…The ACDV

By John Ulzheimer The world of credit is full of terms and acronyms that sound completely foreign to most consumers. Automated Consumer Dispute Verification forms, better known as ACDVs, fit firmly within this category of funny sounding acronyms. And although “ACDV” may not roll smoothly off the tongue, they play

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CFPB Sues Ocwen for Alleged Violations of Consumer Financial Laws

On April 20, 2017, the CFPB sued nonbank mortgage loan servicer Ocwen Financial Corporation and its subsidiaries (collectively, “Ocwen”) in the U.S. District Court for the Southern District of Florida. The Bureau’s complaint alleges violations of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Fair Debt Collection Practices

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2016 Report: FDCPA Down, FCRA & TCPA Up

Quick analysis: 2016 Year in Review: FDCPA 12% Down, FCRA Up 3.9% & TCPA Up 31.8% 2016 ended about as we expected, with: A significant loss of traction for FDCPA, down 12% from 2015 (though, notably, still higher than 2014) FCRA more or less treading water with a less-than-anticipated 3.9%

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Consumer Rights to Know Regarding Adverse Action

Four core federal consumer financial laws—the Truth in Lending Act (and Reg Z), the Electronic Fund Transfer Act (and Reg E), the Real Estate Settlement Procedures Act (and Reg X) and the Equal Credit Opportunity Act (and Reg B)—all have a mechanism whereby a consumer has a

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