Business

Some Credit Report Errors Never Get Fixed

Published

10 years ago

January 23, 2015

This Jan. 15, 2014 file photo shows Federal Trade Commission (FTC) Chair Edith Ramirez speaking at the FTC in Washington. T-Mobile USA knowingly made hundreds of millions off its customers in bogus charges, a federal regulator alleged Tuesday in a complaint that is likely to damage the reputation of a household name in wireless communications. In its complaint filed in federal court, the Federal Trade Commission claimed that T-Mobile billed consumers for subscriptions to premium text services such as $10-per-month horoscopes that were never authorized by the account holder. The FTC alleges that T-Mobile collected as much as 40 percent of the charges, even after being alerted by other customers that the subscriptions were scams. (AP Photo/Susan Walsh, File)

This Jan. 15, 2014 file photo shows Federal Trade Commission (FTC) Chair Edith Ramirez speaking at the FTC in Washington. (AP Photo/Susan Walsh, File)

(CBS News) – Three years after issuing a report revealing that one in five consumers had a documented error on their credit reports, a follow-up study by the Federal Trade Commission found that almost 70 percent still believe that the information they disputed remains incorrect.

The FTC looked at the experiences of 121 consumers who had at least one unresolved credit report dispute in 2012. Only 37 of them said they accept the disputed information as now being correct.

The studies, requested by Congress, sought to determine the level of inaccuracies on credit reports.

Mistakes can be costly. The initial study determined that one in five consumers who found errors on their credit histories took a hit on their credit score that was significant enough to raise the interest rates they would qualify for.

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Oakland Post: Week of November 13 – 19, 2024

The printed Weekly Edition of the Oakland Post: Week of November 13 – 19, 2024

Published

6 days ago

November 16, 2024

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LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST

Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024, 5 p.m. – 6:30 p.m. PST

Published

1 week ago

November 12, 2024

Oakland Post

Discussion Topics:
• Since the pandemic, what battles have the NAACP fought nationally, and how have they impacted us locally?
• What trends are you seeing concerning Racism? Is it more covert or overt?
• What are the top 5 issues resulting from racism in our communities?
• How do racial and other types of discrimination impact local communities?
• What are the most effective ways our community can combat racism and hate?

Your questions and comments will be shared LIVE with the moderators and viewers during the broadcast.

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