Experian, Equifax, TransUnion rarely act on credit file complaints, report says

Source: Herb Weisbaum, Consumers' Checkbook

If you spot a mistake on your credit report and contact the credit bureau, there’s a good chance nothing will happen. Equifax, Experian, and TransUnion together provided relief when alerted to errors less than two percent of the time last year. That’s a huge drop from the already low 25 percent in 2019, according to a new report from the Consumer Financial Protection Bureau (CFPB).

In many cases, the CFPB noted, Equifax, Experian, and TransUnion “relied heavily on template complaint responses instead of providing meaningful and thorough responses,” even though they have up to 60 days to do so.

Read Full Article: Experian, Equifax, TransUnion rarely act on credit file complaints, report says

 

Tags/Keywords

 

Quick Menu

Facebook FTwitter T