Credit reports were the most-complained-about product in 2018, an analysis of Consumer Financial Protection Bureau database finds.The three major credit bureaus, Equifax, Experian and TransUnion, were the most-complained-about companies last year.Mistakes on their reports can result in consumers paying more for credit or getting turned down for a job or mortgage.Credit reporting, credit-repair services or other personal consumer complaints accounted for 43 percent of all complaints to the CFPB last year. That's up from 23 percent in 2016, according to U.S. PIRG Education Fund, a nonpartisan consumer advocacy group. Complaints against Equifax, Experian and TransUnion include ones involving data breaches and customer-service issues in their aftermath. The 2017 Equifax breach affecting nearly 150 million consumers is a case in point. Yet last year, 61 percent of consumers identified wrong information as the main problem with their credit report, according to the study. Mistakes … [Read more...] about Credit bureaus draw the most consumer complaints to the CFPB
What reports to the credit bureau
The partial federal government shutdown is complicating the already complicated process of getting and managing a mortgage. For one thing, the political storm is like severe weather at a major airport: You can expect minor delays or worse. Also, it could mean financial hardship for some federal government employees facing mortgage payments without their regular paychecks. Here's how the shutdown is affecting home buyers and homeowners — and what you can do about it.If you're getting an FHA, VA or USDA loanIf you're getting a Federal Housing Administration or Department of Veterans Affairs loan, it's likely you can expect delays in the underwriting process, and it's possible your closing date will be pushed back as well.There's good news for most FHA-qualified home buyers: Single-family FHA loans are being funded, even during the shutdown. FHA home equity conversion mortgages (known as reverse mortgages) and FHA Title I loans (financing for permanent property … [Read more...] about What the government shutdown means for your mortgage
Published 5:41 pm PST, Saturday, December 22, 2018 ADVANCE FOR WEEKEND EDITIONS - In this Friday, Dec. 6, 2018 photo, Elizabeth Crow, Ellabeth Lodermeier's niece, talks about her brief memories of her aunt at her home in Sioux Falls, S.D. Crow was 7-years old when Ellabeth disappeared in 1974. Elizabeth's mom, Sandra Herman, never stopped trying to get answers to her sister's murder. (Briana Sanchez/The Argus Leader via AP) less ADVANCE FOR WEEKEND EDITIONS - In this Friday, Dec. 6, 2018 photo, Elizabeth Crow, Ellabeth Lodermeier's niece, talks about her brief memories of her aunt at her home in Sioux Falls, S.D. Crow was 7-years old ... more Photo: Briana Sanchez, AP Photo: Briana Sanchez, AP Image 1 of / 5 Caption Close Image 1 of 5 ADVANCE FOR WEEKEND EDITIONS - In this … [Read more...] about What happened to Ellabeth Lodermeier?
A good credit score could impact your ability to get a new home or car. But credit card debt, with high interest rates, can hold you back. According to credit bureau Experian, the average American carries more than $6,000 in credit card debt, up 3 percent from 2017. Avoiding credit card debt John Vento, a certified public accountant and financial planner, told CBS News the best way to avoid credit card debt is to follow a basic principle -- only buy what you can afford. "Clearly it's safer than using cash but at the end of the month, if you don't have those funds available to pay for whatever it is you're purchasing, then quite frankly you should not be buying whatever that is," Vento said. He recommends sticking to no more than two cards. When it comes to retail credit cards, it's tempting to sign up at stores in order to get discounts off your total purchase. But Vento says don't fall for it if you're spending a small amount of money. "If you're about to refurbish your entire … [Read more...] about How to avoid credit card debt and improve your credit score
WASHINGTON ― Sen. Dianne Feinstein (D-Calif.) acknowledged Thursday that she has a document concerning Supreme Court nominee Brett Kavanaugh that she has so far refused to share, despite behind-the-scenes requests to do so from her fellow Democrats on the Senate judiciary committee.“I have received information from an individual concerning the nomination of Brett Kavanaugh to the Supreme Court,” Feinstein said in a statement. “That individual strongly requested confidentiality, declined to come forward or press the matter further, and I have honored that decision. I have, however, referred the matter to federal investigative authorities.”The California Democrat, who is the senior minority member on the committee, had thus far refused to answer questions about the document, which was first reported by The Intercept. 23 PHOTOS Inside Brett Kavanaugh's confirmation hearing See Gallery Inside Brett Kavanaugh's confirmation hearing WASHINGTON, DC - … [Read more...] about Secret document on Brett Kavanaugh referred to the FBI