June 13, 1990 |
A House subcommittee and the Bush Administration appeared to be moving closer to agreement Tuesday on legislation that would put greater limits on the private data banks--including Orange-based TRW Credit Data--that keep computerized credit records on millions of Americans. An Administration representative, the Federal Trade Commission and public interest groups backed many of the major provisions of a compromise bill.
May 8, 2001 |
In a victory for privacy advocates, a federal judge has upheld a proposed government regulation that would effectively end the long-standing practice by credit bureaus of selling consumers' names, addresses and Social Security numbers to marketers, information brokers and others. Industry groups are likely to appeal the decision by District Judge Ellen Segal Huvelle, which was disclosed Monday by the Federal Trade Commission.
June 30, 2012 |
WASHINGTON - In a policy switch that could be important to thousands of applicants seeking low-down-payment home mortgages, the Federal Housing Administration has rescinded tough new credit restrictions that had been scheduled to take effect Sunday. The policy change would have affected borrowers who have one or more collections or disputed-bill accounts on their national credit bureau files in which the aggregate amounts were $1,000 or more. Some mortgage industry experts estimate that if the now-rescinded rules had gone into effect, as many as 1 in 3 FHA loan applicants would have had difficulty being approved.
January 27, 2013 |
Dear Liz: I paid all of my old collection accounts except for two, which now are beyond the statute of limitations. I would like to find the best way to negotiate with the collection agencies without getting sued. Even though the original delinquency was over four years ago, the agencies are reporting these every month as current debt, which is really hurting my credit score. My intent is to offer a lump-sum settlement amount if they will remove the report from my credit file with the bureaus, or alternately in return for a "paid" notation on my report file.
February 6, 2011 |
New credit transparency standards imposed on lenders by mortgage giants Freddie Mac and Fannie Mae could affect your mortgage deal. As of Feb. 1, Freddie Mac began requiring lenders to dig back 120 days into your credit bureau files to detect any inquiries ? signs of your applying for credit anywhere else ? and then to check out whether any applications were approved. If they resulted in significant new debts, your lender might have to revise the terms or the rate you're being offered.
February 24, 2008 |
Why get identity theft protection for free when you can pay for it? That seems to be the attitude of a number of companies, including Lifelock Inc. Known for the TV ads in which its chief executive displays his Social Security number for all to see, Lifelock sells for $10 a month a package of credit fraud alert tools that people can easily set up for themselves at no cost with one of the major credit reporting bureaus, including Experian Information Systems.
October 29, 1998 |
A division of Santa Ana-based First American Financial Corp. agreed Wednesday to settle U.S. Federal Trade Commission allegations that it didn't give consumers a fair chance to dispute inaccurate credit reports. The FTC charged that First American Credco Inc., the largest U.S. provider of specialty credit reports, routinely failed to investigate disputed credit information as federal law requires.