WASHINGTON (Reuters) - The nation’s major credit reporting agencies faced renewed scrutiny from Congress on Tuesday, as lawmakers consider legislation overhauling the industry. FILE PHOTO: The U.S. Capitol is shown after the U.S. government reopened with about 800,000 federal workers returning after a 35-day shutdown in Washington, U.S., January 28, 2019. REUTERS/Joshua Roberts/File Photo Top executives from the three major credit reporting agencies - Equifax Inc, Experian Plc and TransUnion had to defend their business models before skeptical lawmakers who appeared eager to order changes to the sector following Expedia’s massive data breach, disclosed in 2017. “Our nation’s consumer credit reporting system is broken,” said Representative Maxine Waters, chairwoman of the House Financial Services Committee. “I’m troubled to the point where I do think that we need to start thinking about how we reimagine it and rebuild it from the … [Read more...] about Credit reporting agencies face pressure from skeptical U.S. Congress
How do credit reports work
PUBLISHED: 16:46 23 January 2019 Will Jefford Citizens Advice Bureau Archant Universal credit has now been rolled out across Suffolk, with nearly 30,000 people signing up to the scheme. It has been met with mixed opinions with reported miscalculations, delays in getting payments and changes to the amount people get paid. But how does someone survive on the new benefits system? Recent figures released by the Department for Work and Pensions show that the number of people on Universal Credit has increased by 190% since December 2017, with the scheme being rolled out across the area during 2018.One of the 4,065 people who are now on Universal Credit in Ipswich is Rebecca Bland, who lives in the Suffolk town with her two children.Citizens Advice BureauThrough Universal Credit, Mrs Bland receives £800 a month which she divides down to budget for each week.She said: “The main problem I had with moving over to Universal Credit is that the payments are … [Read more...] about How do you survive on Universal Credit?
For most U.S. voters, living or working far from home isn't a barrier to voting on election day. That's what absentee ballots are for. But what if you work someplace really far away, like say... outer space?American astronauts get to vote just like everyone else. They just have to get that process started a whole lot earlier. It's all thanks to a Texas law passed in 1997, as NASA discusses in a helpful Tumblr post. (The law originates in Texas because the majority of astronauts live there, near Johnson Space Center in Houston.)The coolest fact here: NASA calls voting from space... "space voting." (Let's be real, everything is inherently more awesome when you put "space" in front of it.)SEE ALSO: Candidate's 5-year-old son captures every voter's heart by lying down on the tarmacThe space voting process starts a full year before election day, with each astronaut selecting which local, state, and federal election in which she or he wants to cast a vote. Then, six months out, each … [Read more...] about How do astronauts cast their votes while in space?
Susan Tompor Detroit Free Press Published 2:00 PM EDT Sep 6, 2018 Just one year ago, consumers woke up and discovered that hackers had one heck of a field day with their Social Security numbers and other information in a massive data breach at Equifax. Equifax's screwup would forever leave millions just that much more vulnerable to ID theft. Face it, it's not like you can change the locks on the side door. Once hacked, your Social Security number is out there indefinitely. Beginning Sept. 21, though, a new federal law will help consumers stop intruders in their tracks. The three big credit reporting agencies — Equifax, Experian and TransUnion — will be required to offer you a credit freeze, free of charge. Such a freeze will restrict access to your credit file and help stop crooks from opening credit cards in your name. Also starting Sept. 21, parents across the country will be able to get a free credit freeze for children under age … [Read more...] about Equifax, Experian, TransUnion to offer free credit freeze
Susan Tompor Detroit Free Press Published 7:00 AM EDT Sep 19, 2018 Tracey Taschereau tried over and over again to find a quick loan online. And somehow, the scammers figured out she was desperate. Tascherau, 48, had trouble paying everything from payday loans to utility bills to the property taxes owed a home she was buying on a land contract in Dearborn Heights. Her bank account had but $100 or $200. She only had seasonal part-time work in a school cafeteria. So she searched online for loans made to people in tough spots. And she was rejected each and every time. “I have real bad credit, so the payday loans are hard to get too,” Taschereau said. All of a sudden, though, she got an email out of the blue in early February from an outfit called Ace Cash Express saying she was approved for a loan. “OK, great somebody is finally willing to lend me money that I need,” she thought. “They asked for my bank account information … [Read more...] about How check scam victim paid price for depositing a fake check