The Consumer Financial Protection Bureau announced that it is now accepting consumer complaints about credit reporting and will work to help resolve individual credit reporting issues.
“Credit reporting touches the financial lives of nearly each and every American,” writes Scott Pluta, CFPB’s assistant director for the Office of Consumer Response. “Credit reports affect whether or not you are able to get a credit card, a home loan, an auto loan, or a student loan, the ability to rent an apartment or get hired, and even tasks as simple as getting a cell phone or electricity for your home. It also can affect how affordable or expensive those things are for you.”
As such, CFPB says it will now help consumers with individual complaint assistance on issues with their credit report. Issues may include incorrect information on a credit report; improper use of a credit report; being unable to get a copy of a credit score or file; or problems with credit monitoring or identify protection services.
For consumers who think there is an error on their credit report, CFPB first recommends they go through the credit bureau’s process for trying to fix any problems. But for those who aren’t satisfied with the end result, the CFPB encourages consumers to contact the agency for assistance in resolving the issue.
CFPB says that it is using the submitted complaints as a way to better understand the challenges consumers face with credit reporting agencies.
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2012/10/24/agency-helps-consumers-resolve-credit-report-complaints
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