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Testimony before the U.S. House Financial Services Committee regarding Consumer Protections and Equifax Data Breach
NCLC has long advocated for stronger reforms to ensure accuracy and fairness in the U.S. credit reporting system. We have testified many times before Congress, including before this Committee, on the need for reform of the credit reporting system to address issues such as unacceptable error rates, the travesty of the automated dispute system used…
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Credit Scoring and Insurance: Costing Consumers Billions and Perpetuating the Economic Racial Divide
The use of credit scores in home and auto insurance is a poorly understood phenomenon with a huge economic impact on Americans. It’s also a practice that creates wide racial disparities. This report presents an overview of credit scores, which are three digit numbers designed to predict risk based on a consumer’s credit record. The…
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Full Utility Credit Reporting: Risks to Low Income Consumers
A research consultant has recently produced several reports promoting utility company reporting of all customer payment behaviors and transactions to the major consumer reporting agencies (CRAs). Proponents of full utility reporting contend that it is required to help “thin file” and “no file” consumers to build credit history and gain access to bank loans and…
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Full File Utility Credit Reporting: Harms to Low-Income Consumers
One of the efforts to promote alternative credit data urges that utility companies engage in monthlyreporting of customer payments, including late payments, to the Big Three nationwide credit reportingagencies (CRAs), Equifax, Experian, and TransUnion. Currently, the vast majority of electric and naturalgas utility companies only report to those three CRAs when a seriously delinquent account…
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Don't Add Insult to Injury: Medical Debt & Credit Reports
Expenses for life-saving or medically necessary care are often unexpected, and can throw a family into an immediate financial crisis. This crisis is compounded when families cannot pay for these surprise expenses and the debt is reported to credit bureaus. The blemishes on a credit report (which employers and landlords as well as creditors may…
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Testimony Regarding "A Biased, Broken System: Examining Proposals to Overhaul Credit Reporting to Achieve Equity"
Testimony of Chi Chi Wu, National Consumer Law Center Before the U.S. House of Representatives Committee on Financial Services regarding “A Biased, Broken System: Examining Proposals to Overhaul Credit Reporting to Achieve Equity”
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Testimony on Consumer Credit Reporting: Assessing Accuracy and Compliance
Testimony before the U.S. House of Representatives Committee on Financial Services Subcommitee on Oversight and Investigations
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Testimony Before House Financial Services Committee Regarding “Fair Credit Reporting Act: How It Functions for Consumers and the Economy”
Testimony before the COMMITTEE ON FINANCIAL SERVICES SUBCOMMITTEE ON FINANCIAL INSTITUTIONS AND CONSUMER CREDIT regarding “Fair Credit Reporting Act: How it Functions for Consumers and the Economy”
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Support letter for Credit Reporting Provisions of the HEROES Act/S.3508
Consumer, civil rights, faith, labor, nonprofit, community, human rights, and advocacy organizations express support for Section 110401 of the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act.
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