TCAI To Partner on National Study

The information in consumer credit reports has become increasingly important as the gateway to getting a mortgage, credit cards, insurance and even a job offer. Financial education programs stress the importance of credit reports, and especially credit scores, as a barometer of a person’s creditworthiness. But, for most of the past two decades, consumer groups and the press have repeatedly challenged the accuracy of credit report content. We know errors in credit reports do occur. Each month the three major national credit reporting agencies (Trans Union, Equifax and Experian) merge over 2 billion pieces of new and updated credit information from data furnishers into individual credit reports. The public policy question is how accurately this information gets assembled to provide creditors with a fair and reliable picture of a person’s credit and payment history.

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Released date: 
Oct 28 2010