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How the new Consumer Financial Protection Bureau can help consumers
The new consumer financial protection agency will help consumers avoid fraud in credit cards, mortgages and other financial products by handling consumer complaints and acting to resolve those complaints with the banks.
New Rules Allow Consumers to Get Free Credit Scores
As of July 21, 2011 consumers denied credit or approved for credit with less favorable terms are entitled to the actual credit score used by the lender in making the decision.
What is a Risk-Base Pricing Notice
Consumers receiving credit approval but with less than favorable credit terms may receive a risk base pricing notice explaining why they did not receive the best terms.
Lenders must disclose credit scores when consumers are approved for credit
Risk base pricing is used by lenders and banks to determine what credit terms a consumers will receive based upon the consumer’s credit history.
An Adverse Action Notice should be sent when a denial of credit occurs
Consumers should receive an adverse action notice when a denial of credit occurs giving you the opportunity to get a free credit report within 60 days.
Overview of the Fair Debt Collection Practices Act (FDCPA)
The Fair Debt Collection Practices Act gives consumers protections against abusive and unethical practices of debt collectors.
Will good credit customers get penalized under the Card Act of 2009?
Good credit customers may be penalized as credit card companies look for ways to recoup the billion dollar losses under the Card Act of 2009.
What is the Direct Dispute Rule
The furnisher of negative information to a credit report will be obligated to investigate consumer disputes under the Direct Dispute Rule.
The Fair Credit Billing Act (FCBA) helps fix billing errors
The Fair Credit Billing Act (FCBA) provides for the prompt correction of errors and protects consumers’ credit ratings while they are settling disputes
How the Fair Credit Reporting Act (FCRA) helps consumers
The credit reporting agencies provide credit reports for businesses, credit card companies, banks, employers, landlords, insurance companies, and others.
