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Consumer credit growth beats expectations

clock July 18, 2013 07:29 by author Walt Wojciechowski
Consumer credit surged in May, shattering the predictions set out by industry experts. The latest report from the Federal Reserve indicated that outstanding credit levels jumped at an annual rate of 8.3 percent in May. The growth was led by revolving credit lines, which expanded by 9.3 percent. Nonrevolving credit jumped by 7.9 percentMarketWatch r... [More]

Many consumers complain about wrong information on credit reports

clock June 25, 2013 12:12 by author Walt Wojciechowski
Credit reports are an essential part of consumers' financial lives, as they are needed to qualify for most types of lending. Oftentimes, these reports contain errors, and the Consumer Financial Protection Bureau recently released information that said 21 percent of consumers said they had information on their reports that was erroneous. Additional... [More]

Fed: Consumer credit increased in April

clock June 13, 2013 22:14 by author Walt Wojciechowski
Consumer credit lines increased in April at a steady rate. Data released by The Federal Reserve recently showed that overall credit spiked by 4.7 percent during April, a more significant increase than the 3.6 percent growth recorded in March.One of the positive developments for financial institutions was that revolving credit lines increased by $68... [More]

Consumer credit report complaints added to CFPB database

clock June 10, 2013 14:13 by author Walt Wojciechowski
Consumer credit reporting agencies were put under the microscope recently by the Consumer Financial Protection Bureau (CFPB). A number of complaints regarding personal consumer credit reports were added to the CFPB's complaint database, the agency announced in a statement. Overall, the source noted that over 6,000 credit report-related issues were ... [More]

Many Americans experience credit issues

clock June 10, 2013 14:13 by author Walt Wojciechowski
While it might not be something that many people think about on a daily basis, the accuracy of a person's consumer credit report is extremely important. If this data is not up to date and correct, it is possible that the individual will be denied essential services, including the loans they require to make critical purchases, when they need them mo... [More]