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Released: September 01, 2011
Tougher rules for credit bureaus could be on the way
Source: Rachel Koning Beals, U.S.News.com
Borrowers may soon have more weapons to fight back against erroneous credit reports and credit scores. This includes uncovering discrepancies when a report or score obtained by a consumer differs from the data that land on a lender's desk, simply because the numbers were derived from another service. In this new era of controversial, tighter banking and mortgage rules, one sliver of the loan market hasn't changed: the credit bureaus. The Consumer Financial Protection Bureau (CFPB)—a layer of regulation created under the Dodd-Frank Wall Street Reform and Consumer Protection Act—issued a new report and took public comment late this summer on whether it should oversee credit bureaus with the same scrutiny it is leveling at big banks.Read Full Article: Tougher rules for credit bureaus could be on the way
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