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Tag Archives: Equifax

FTC: 25% of Consumers Have Errors in Credit Reports

Nearly 20 percent of credit reports reviewed by consumers and experts, according to a congressionally mandated study by the Federal Trade Commission (FTC). The study, based on the findings of 1,001 participants reviewing 2,968 credit reports issued from Transunion, Experian, and Equifax, showed that approximately 25 percent of consumers identified errors material enough to affect their credit scores. About 5 percent found errors large enough to trigger higher payments for mortgages or other financial products.

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Equifax: Rising Employment Leads to Decline in Subprime Credit

Subprime credit scores are declining across the country with strong declines in a few rebounding markets, according to Atlanta-based Equifax, a leading credit reporting agency. Designating credit scores below 620 as "subprime," Equifax found the number of subprime borrowers decreased 2.1 percent from the third quarter of 2011 to the third quarter of 2012. The 2.1 percent translates to about 1 million Americans who rose from the subprime category.

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Equifax Enters Agreement to Purchase CSC Credit Services

Out in Atlanta, Equifax Inc. announced that its subsidiary, Equifax Information Services LLC, has entered into an agreement to purchase certain credit services business assets and operations of CSC Credit Services, Inc., a subsidiary of Computer Sciences Corporation.

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