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New Rules for Credit Bureaus

Posted on July 31, 2012 by Ray Williams (NMLS #216267).

An article today on MSN Money stated that the Consumer Financial Protection Bureau is putting their foot down and fighting on behalf of the consumers again.  They are going to take on the three most prominent credit bureaus (Transunion, Equifax and Experian) to help in getting better rules and regulations regarding our credit reporting.

Nowadays our credit reaches not only into qualifications for mortgages, consumer loans, credit cards but now also can impact our employment and rent.  If you have wrong or inaccurate information on your credit it can hurt and scar your credit for many years, causing you to not get a desired job, or rent an apartment or home along with not being able to purchase a home.

It is refreshing to hear that new regulations may take place and that we have a federal agency on our side wanting to make things better and seeing that there are definitely changes that need to be made.

Correcting and removing fraudulent information should not be so difficult.

Click here to read the full article.  Highly recommend, article also has some great links to research regarding how to dispute your credit.

~Ray Williams

Branch Manager

Summit Mortgage Corporation

303-779-0591 ext. 101

[email protected]

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