Riskier Borrowers' Credit Scores Set To Rise Under New Rules


Riskier Borrowers' Credit Scores Set To Rise Under New Rules

Mar, 27th 2017

Rather than digging deeper to verify federal tax liens and civil judgments and include them on your credit report, the three major credit bureaus decided to opt out of reporting these items as of July 1, according to a Consumer Data Industry Association announcement Monday.

Say what?

Equifax, Experian and Transunion cut a deal in March 2015 with the New York Attorney General, and eventually added 31 more attorneys general to do a better job of validating information and credit report dispute investigating. The credit bureaus are blaming inconsistent reporting for this change.

Earlier this month, the Consumer Financial Protection Agency pointed to similar problems and its intent to fix the broken dispute process.

Good camouflage to do less work for the same price and, consequently, create more havoc.

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