News

Bureau Report Finds Accuracy Issues Top Credit Report Complaints; Warns on Avoiding Investigations WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) called on the nation’s top credit card companies to make credit scores and related content freely available to their customers. A report released by the CFPB today

A recent decision rendered by the Bankruptcy Court for the Southern District of California raises some interesting cautionary tales for secured lenders who share collateral. In Gladstone v. Bank of America (In re: Vassau et. al.), 499 B.R. 864 (Bankr. S.D. Cal. 2013), two lenders shared collateral that had

When a clients come to you about filing Bankruptcy it should be all about timing. Sometimes, waiting to file makes good sense and will save the debtor a lot of headaches and some significant debt. Sometimes, however, the time to file is as soon as possible. Let’s look at six

CapitalOne took a lot of flack over its apparent desire to check what’s in your wallet by visiting you at home and at work.  The LA Times story got even bigger when it made it to Twitter and  great (and lots of bad, see previous sentence) puns

The Consumer Financial Protection Bureau (CFPB) took the first step toward considering consumer protection rules for the debt collection market. Through its Advance Notice of Proposed Rulemaking (ANPR), the Bureau is collecting information on a wide array of issues, including the accuracy of information used by debt collectors, how to

How many points delinquencies are worth on your credit score?  Zero, That’s right, delinquencies are worth zero points in your credit score. Delinquencies, like inquiries, do not have independent value. So, 30 day lates are not worth 10 points, 60 day lates are not worth 15 points and 90 day

Missouri is requiring those in their state to obtain a license to offer credit services. Credit Service Organizations are licensed under standards set by sections §§407.635-407.644. These businesses, commonly referred to as “credit repair companies,” offer to clean up and improve their prospective clients’ credit reports. The law applies to

FICO, owner of the credit-scoring formula most widely used by U.S. lenders, is giving some consumers access to their credit scores for free, even before they apply for a loan. The offering starts today for credit-card holders of two companies: Barclaycard US, a unit of London-based Barclays Plc (BARC), and

This bill was introduced on October 30, 2013, in a previous session of Congress, but was not enacted. The text of the bill below is as of Oct 30, 2013 (Introduced). To read this pending bill click below. It could offer a way for alternative data e.g. utilities bills, cell

WASHINGTON, D.C. – U.S. Senators Mark Kirk (R-Ill.) and Joe Manchin (D-W.Va.) announced today the introduction of legislation that would allow for a more thorough and fair evaluation of an individual’s credit worthiness. The Credit Access and Inclusion Act would improve individuals’ access to credit by allowing utility companies to