The Consumer Financial Protection Bureau on Tuesday issued its annual report on the industry’s three largest credit reporting companies, based on nearly a half-million complaints it received about TransUnion, Equifax and Experian.
Tag: Experian
CFPB Analysis Criticizes Consumer Reporting Companies on Complaint Response
A new Consumer Financial Protection Bureau analysis sharply criticized the three major nationwide consumer reporting companies, alleging changes in complaint responses provided by Equifax, Experian and TransUnion resulted in fewer meaningful responses and less consumer relief.
Report Finds Most Consumer Managing Credit Well
Experian, Costa Mesa, Calif., said despite a challenging year and a half, consumers are managing credit well with average credit scores climbing seven points since 2020 to 695 – the highest point in more than 13 years.