Credit Reporting & Scores Archives

Group Letter Urging Credit Bureaus to Fix Credit Reporting Problems for Transgender and Nonbinary Customers

February 24, 2022

The undersigned organizations write on behalf of a coalition of LGBTQ+, consumer, and legal advocacy groups that have come together to address the serious credit-related problems encountered by transgender and nonbinary people. We appreciate that CDIA acknowledged these issues in its press release addressing how transgender and nonbinary individuals can prevent disruptions to their credit…

Group Letter in Support of H.R. 5332, the Protecting Your Credit Score Act of 2019 (Gottheimer).

June 23, 2020

This bill will address serious problems in the credit reporting system and empower consumers by providing them with much greater access to and control over their own information.

Stabilizing Consumer Finances During and After the Coronavirus Crisis in California

May 19, 2020

In 2018, more than a quarter of all Californians had a debt in collection.1 The increases in unemployment claims and general job loss due to COVID-19 will without question result in an explosion of debts in collection that will disproportionately impact the most vulnerable consumers who are least able to weather a financial crisis and…

Protecting Credit Reports During the COVID-19 Crisis

April 21, 2020

The COVID-19 pandemic has devastated our economy, leaving over 26 million consumers unemployed (as of late April 2020) and forcing countless small businesses to close. This economic catastrophe will also lead to damaged credit reports and plunging credit scores for tens of millions of consumers. Lower credit scores will not only impede consumers’ ability to…

Credit Reports and the COVID-19 Crisis: What States Should Do to Help Consumers

March 24, 2020

The COVID-19 crisis will damage the credit reports of tens of millions of consumers, who will see their scores nosedive because of mass unemployment and loss of income. Lower credit scores will impede consumers’ ability to get affordable credit, jobs, housing, and to generally recover when this crisis is over. Yet the response to this…

The Need for Utility Reporting of Key Credit and Collections Data Now and After the Covid-19 Crisis

April 8, 2020

The challenges posed by the Covid-19 crisis have heightened the importance of sustained, affordable access to essential home energy service for all households across the nation. Yet, there is currently only limited capacity in the U.S. to gain a clear, data-driven understanding of the number of households that lose access to home energy services and…

Disputing Errors in a Credit Report

September 2, 2014

Why is it important to correct errors in my credit report? What can I do if there is an error in my credit report? These questions and more are answered in NCLC’s Facts for Older Consumers: Disputing Errors in a Credit Report.

Testimony of Chi Chi Wu to U.S. House Financial Services Opposing Weakening FCRA Protections

September 7, 2017

Testimony before the U.S. House Financial Services Committee regarding Consumer Protections and Equifax Data Breach

October 25, 2017

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…

Credit Scoring and Insurance: Costing Consumers Billions and Perpetuating the Economic Racial Divide

June 18, 2007

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…

Full Utility Credit Reporting: Risks to Low Income Consumers

December 8, 2009

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…

Full File Utility Credit Reporting: Potential Harms to Low-Income Consumers

March 23, 2026

This issue brief discusses the risks and harms of full-file utility credit reporting, which urges utility companies to engage in monthly reporting of customer payments, including late payments, to the Big Three credit bureaus. In a time of skyrocketing energy costs, full file utility credit reporting will result in negative information being reported to the…

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