A Federal Trade Commission investigation of the U.S. credit reporting industry turned up some dismal findings for consumers. The comprehensive study found that 5 percent of consumers identified errors on one of their three major credit reports that were significant enough to affect their eligibility for loans and insurance, as well as the rates they would pay. The FTC report, which was announced on Monday, is based on work with 1,001 participants who reviewed 2,968 credit reports with study associates who helped them identify and correct possible errors.
Loading ...
FTC Finds Consumer Credit Reports Rife With Errors
Posted by: Erika Morphy February 13, 2013 05:00 AMA Federal Trade Commission investigation of the U.S. credit reporting industry turned up some dismal findings for consumers. The comprehensive study found that 5 percent of consumers identified errors on one of their three major credit reports that were significant enough to affect their eligibility for loans and insurance, as well as the rates they would pay. The FTC report, which was announced on Monday, is based on work with 1,001 participants who reviewed 2,968 credit reports with study associates who helped them identify and correct possible errors.