Consumer Agency Now Takes Credit Reporting Complaints

If you’ve tried to correct an error on one of your credit reports with no satisfactory resolution, now you can complain to the Consumer Financial Protection Bureau.
The U.S. agency, a byproduct of Wall Street reform, is expanding its authority over credit bureaus, particularly the three primary holders of Americans’ credit histories: Equifax, TransUnion and Experian.
Starting today, the CFPB can help consumers with “individual-level complaint assistance” on issues with their credit report.
The types of complaints include:
» Incorrect information on a credit report;
» A consumer reporting agency’s investigation;
» Improper use of a credit report;
» Being unable to get a copy of a credit score or file, and;
» Problems with credit monitoring or identify protection services.
“There are important consumer rights guaranteed by federal consumer financial law that are best preserved by you first going through the credit reporting company’s complaint process,” states the CFPB.
After you file a complaint with the credit reporting company, if you are dissatisfied with the resolution, file a complaint with the CFPB.

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