Consultant

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

By John Ulzheimer The world of credit can be a very confusing place, and we credit-types tend to speak in acronyms. Many of the terms and these acronyms can sound alike, which only adds to the confusion. In my world, the world of credit reporting and credit scoring, using the

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

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

By June 8, 2018,  The CRAs will no longer reject a consumer’s second dispute (with the exception of disputes from credit repair companies) solely because a consumer had submitted a dispute in the previous 3 years. Note: consumers may be required to submit supporting documentation in order to

An Illinois woman has filed a lawsuit filed against the three major nationwide credit reporting agencies – Equifax, Experian, and TransUnion – claiming that they allegedly violated the federal Fair Credit Reporting Act (FCRA) by failing to observe her bankruptcy and reporting discharged debt, according to a report

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%

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

On March 27, a United States District Court judge denied a request to dismiss a Fair Debt Collection Practices Act (FDCPA) case as outside the one-year statute of limitations. The judge held that the “Discovery Rule” applies and that the statute doesn’t begin to run until the plaintiff “discovers” the

Credit Reporting Company Misstated How Credit Scores It Sold Were Used The Consumer Financial Protection Bureau (CFPB) today took action against Experian and its subsidiaries for deceiving consumers about the use of credit scores it sold to consumers. Experian claimed the credit scores it marketed and provided to consumers were