May 5, 1994 |
Americans who have been denied a loan, a job or the chance to buy a home because of inaccurate credit reports would get new power to correct the record under legislation passed by the Senate on Wednesday. The bill, approved 87 to 10, marks the first major overhaul of the Fair Credit Reporting Act of 1970, which was designed in an era when the credit bureaus operated with handwritten file cards.
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be important to thousands of applicants seeking low-down-payment home mortgages, the Federal Housing Administration has rescinded tough new credit restrictions that had been scheduled to take effect Sunday.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 Some mortgage industry experts estimate that if the now-rescinded rules had gone into effect, as many as 1 in 3 FHA loan applicants would have had difficulty being approved.
April 10, 2011 |
Dear Liz: Do I need to stop making payments for my bank to consider a short sale? I moved and put my house on the market a year ago but got no bites despite three price reductions. The only way I'm likely to sell it is to reduce the price below what I owe the lender. I want my credit to remain as good as possible, but I worry that if I have to miss payments to get the lender to consent to a short sale my scores will be lower than if I had kept up the payments before selling short.
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.