Plain-language articles on credit reports, disputes, consumer rules and business credit. Educational only, not legal advice.
Demand for consumer credit in the US has fallen dramatically during the Covid-19 crisis, with credit card applications falling to multiyear lows, according to a Federal Reserve survey released on Monday. The proportion of households applying for any…
During this time of year, many people are thinking about goals. Two areas that people commonly seek to improve are their finances and their fitness. A…
Internal fraud Credit union insider fraud cases did not take a holiday in 2020, but they substantially declined, presumably because of the coronavirus economic and health…
The rate of U.S. credit card defaults was mixed in November for major issuers amid the coronavirus-induced economic slowdown. Credit card loans are charged off after…
Thursday, December 17, 2020 In a putative class action concerning Experian’s marketing of its “Experian Credit Score” service, the Ninth Circuit recently affirmed a lower court…
Every year, about a million borrowers default on their student loans—and that number may increase. Research from the Brookings Institute found that nearly 40% of borrowers…
Consumers with a credit card balance have an average FICO Score of 735, according to Experian’s 2020 Consumer Credit Review. While Experian can’t specify whether these cardholders are…
Press release from Sikorsky Credit Union: Jan. 4, 2021 Sikorsky Credit Union recently donated to local non-profit organizations. The past year has been challenging for many…
On December 18, the Consumer Financial Protection Bureau (CFPB) issued a second debt collection final rule. The first debt collection final rule was published in the…
On December 16, the CFPB denied a petition by a non-profit guaranty agency that serves as a guarantor of federal student loans to set aside a…
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