credit report accuracy

Highlights From FTC Recent Study On Credit Report Inaccuracy

The Federal Trade Commission (the “FTC”) recently released its fifth interim report on a national study of credit report accuracy. This was the first national study to include participation from consumers, lenders/data furnishers, FICO and the national consumer reporting agencies (the “CRAs”). The FTC found that:

  • “26% of the 1,001 participants in the study identified at least one potentially material error on at least one of their three credit reports.”
  • Only 21% of participants had