By Jann Swanson
Posted To: MND NewsWire
It was hailed by NBC news on Monday as the most radical change to credit reporting in decades and New York Attorney General Eric T. Schneiderman said his agreement with the three major national credit reporting agencies (CRAs) will reform the entire credit reporting industry and protect millions of consumers across the country. The agreement between Schneiderman’s office and Experien, Equifax, and Transunion reported on Monday requires the CRAs to institute a number of reforms to increase protections for consumers, over a three year period. While the agreement is specific to New York State , it is expected that most of the reforms will be instituted nationwide . The three major CRAs maintain consumer credit information on an estimated 200 million consumers. Information provided by “data furnishers…(read more)
Via:: Major Changes Coming for Credit Reporting
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