Data breaches have become increasingly common, exposing millions of consumers to the risk of identity theft. If your personal information has been compromised in a data breach, it’s important to stay vigilant and take proactive steps to protect yourself. Identity theft can lead to financial losses, credit damage, and even legal issues if someone uses
When you check your credit report, the last thing you want to see is incorrect information. Unfortunately, errors in student loan credit reporting are more common than most borrowers realize. One significant issue that has caused headaches for consumers is the appearance of duplicate balances—when the same loan shows up multiple times, inflating your total
In a groundbreaking move to improve financial equity, the Biden administration has announced a final rule that will eliminate unpaid medical bills from credit reports. This decision, revealed Tuesday, marks a transformative shift in how medical debt is treated in the financial system and is expected to benefit millions of Americans struggling with the weight
In a significant move to enhance consumer privacy and security, the Consumer Financial Protection Bureau (CFPB) has rolled out a proposed rule that could change the landscape of data brokerage in the United States. This rule aims to clamp down on the sale of sensitive personal and financial information by data brokers to individuals or
At Francis Mailman Soumilas, PC, we understand the frustration and potential financial harm caused by unauthorized credit card transactions. Here’s a comprehensive guide to help consumers protect their rights under key federal laws like the Fair Credit Billing Act (FCBA) and the Truth in Lending Act (TILA). Your Rights Under the Fair Credit Billing Act
In today’s world, data accuracy is everything—especially when it comes to personal information held by major data brokers like LexisNexis. When this information is misreported, it can lead to significant issues for consumers. Unfortunately, correcting inaccurate information on a LexisNexis report can be a frustrating process, with disputed information often remaining stubbornly unchanged. Here, we’ll
California recently enacted a new law broadly prohibiting the use of medical debts in consumer credit reports. The law, SB-1061, is part of a growing national movement to ban consumer reporting agencies (CRAs) from reporting on medical debt and creditors from using consumers’ medical debts in credit, employment or housing decisions. The policy reason for
The Consumer Financial Protection Bureau (CFPB) has recently proposed a significant new regulation aimed at removing almost all medical debt from most credit reports. In its statement the CFPB stated “Medical bills on credit reports too often are inaccurate and have little to no predictive value when it comes to repaying other loans.“ This move
If you’ve been delayed or denied a job or faced other issues because of an error on your background check, you might be feeling frustrated and unsure of what to do next. Errors on background checks can have serious consequences, impacting your career, housing, and even your finances. Fortunately, you have rights as a consumer,
Originally posted on The Legal Intelligencer Seventh Circuit Issues Seemingly Internally Inconsistent FCRA/FDCPA Decision In its recent decision in Freeman v. Ocwen Loan Servicing, No. 23-2512, the U.S. Court of Appeals for the Seventh Circuit upheld a district court’s dismissal of a borrower’s Fair Credit Reporting Act (FCRA) and Fair Debt Collection Practices Act (FDCPA)