Report finds Black, Hispanic consumers twice as likely to have disputes of inaccuracies on their credit reports.
Report: Black, Hispanic consumers twice as likely to have disputes of inaccuracies on credit reports
"The thief got away with $8,600 worth of merchandise, furniture, electronics, and appliances. I was like, wow," said Akil Wilson.Akil Wilson says identity theft has sideswiped his peace of mind and his credit score. The Consumer Financial Protection Bureau found consumers in Black and Hispanic communities are twice as likely to have disputes on their credit reports, regarding auto loans, student loans, and credit cards. The report did not pinpoint why or whether the problem is from identity theft or inaccurate reporting.
"The Consumer Financial Protection Bureau recently issued a misleading report that undermines the credit reporting ecosystem’s commitment to expanding financial inclusion to American consumers, especially among communities of color and others who have traditionally been underserved. Credit reporting is good for consumers. The system improves the credit decision process, and regulators can be proud of the role they play in ensuring that discrimination in lending is pushed out of the system.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Next-gen Materials Saw $2.3B Investments — With Growth Ongoing, Report FindsThe buzzy phrase, next-gen materials, means innovative inputs like non-animal, non-plastic alternatives to leather, fur, silk, viscose, polyester and the like.
Read more »
New report finds CRA's performance less than the 'world class' it touts\u0027I’d say (CRA’s performance) is probably very average\u0027: Parliamentary Budget Officer
Read more »
McDonald’s Food Packaging Contains This Cancer-Causing Chemical, New Report Finds — Eat This Not ThatWe all know that fast-food isn't the healthiest for us, but a new report has revealed that it might not be the best for preventing disease, either...
Read more »
Travis Barker and Kourtney Kardashian Hit the 2022 Oscars Red Carpet in BlackThe couple appeared on the Oscars red carpet and gazed lovingly at one another in coordinating black ensembles.
Read more »
Billie Eilish rocks rows of black ruffles on Oscars 2022 red carpetBoth Eilish and her brother, Finneas, have been nominated for an Oscar for their song “No Time To Die,” which was written for the James Bond film.
Read more »
Black investigator sues NYS finance department over ‘toxic’ environmentA veteran black female fraud investigator is suing the state Department of Financial Services alleging she was called a “bitch” for doing her job.
Read more »