News

2017

March

17
16
  • 13 mortgage facts that might surprise you. A little shopping around can yield very different rates: You might assume that the current average interest rate is what you'll be offered, but that's not true. Different lenders will offer different rates. Paying $100…
  • Your credit score might suddenly rise this summer. Here's why. The nation’s three major credit reporting companies — Equifax, Experian and TransUnion — use information from public records about tax liens, civil judgments and bankruptcies when computing people’s credit scores. But sometimes there are mix-ups,…
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  • Rules at Risk (Spring 2017). Much progress has been achieved for American consumers in recent years. But many of these protections are now at risk of repeal.
07
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  • Leashes come off Wall Street. Dozens of federal rules protecting consumers, the environment and more could be eliminated in the coming weeks. The move represents one of the most significant shifts in regulatory policy in recent decades. It is the…
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  • Many borrowers say the mortgage process is a major pain. At a time of super-strict underwriting standards, record-high credit-score requirements and hard-wired debt-to-income cutoffs, has the process of applying and qualifying gone a little over the top? Many applicants and borrowers apparently think so. Two…
  • Consumer Action INSIDER - March 2017. The March 2017 issue of Consumer Action's monthly newsletter teaches you how to understand your credit score better; updates you on a new study on how communities are pushing back against payday lending; details our latest financial counseling webinar (co-hosted with FICO); outlines recent California legislation impacting consumer privacy and more.

February

27
  • Little credit history? Lenders are taking a new look at you. About 45 million Americans lack traditional credit files, and the federal government is looking into whether alternative credit scoring models could bring more of these consumers into the financial mainstream. The Consumer Financial Protection Bureau…
  • Score one for the bank whistle-blowers. Here is something to celebrate: The United States Supreme Court just handed whistle-blowers one of their bigger wins in a long time. The Supreme Court essentially confirmed that some courts have been using too narrow…
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