This article from a few days ago is an interesting look at the Credit Reporting Agencies and the mistakes they often make, in favor of the credit extender and to the detriment of consumers like you and me!
http://www.nytimes.com/2014/06/22/business/held-captive-by-flawed-credit-reports.html?smid=fb-share
Interesting excerpt from the article:
" . . . Consumers have also won in the courts, on occasion. Last year, an Oregon consumer was awarded $18.4 million in punitive damages by a jury after she sued Equifax for inserting errors into her credit report. But the fines, settlements and judgments paid by the larger companies are not even close to a rounding error. Experian generated $4.8 billion in revenue for the year ended March 2014, and its after-tax profit of $747 million in the period was more than twice its 2013 figure."
Article is a quick read but also a quite revealing look at the CRA's and the power they yield over anyone seeking credit!
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