CFPB Handles Credit Reporting Issues

first_img CFPB CRC Credit Data 2017-03-02 Staff Writer CFPB Handles Credit Reporting Issues Share As of February 1, the Consumer Financial Protection Bureau (CFPB) has handled close to 185,700 complaints from consumers about credit reporting companies (CRC). In the recent Supervisory Highlights Consumer Reporting Special Edition, the CFPB reviews what steps they have taken to review and address the concerns and problems in the credit reporting market.The CFPB has taken steps to ensure accuracy of information from CRCs, as well as directed these companies to increase quality control, according to the report. The main concern has been data inaccuracy and dispute processes.When dealing with a dispute from a consumer, the CFPB found that one or more of the consumer reporting companies have not followed federal requirement regarding disputes. CFPB direction has addressed this concern and CRCs have improved in sending response letter to consumers.According to the report, improvements in quality control directed by the CFPB have increased data accuracy. With better data accuracy, consumers are less likely to experience faults in their report such as already-paid bills showing up as unpaid.One of the problems found by the CFPB was inaccurate data being supplied to the CRCs, so in addition to monitoring the data that the CRCs put out, the CFPB has taken steps to monitor the information coming in so that the CRCs can provide the most accurate data possible. CRCs have taken necessary steps to improve the accuracy of information tackle the issue of “garbage in, garbage out”.“Since we began our oversight work, the CFPB has been uncovering and correcting problems in the consumer reporting industry,” said CFPB Director Richard Cordray. “Because of our work, important improvements are being made. Much more work needs to be done but our corrective actions are leading to positive changes that are benefiting consumers all over the country.”center_img in Daily Dose, Data, Headlines, News March 2, 2017 570 Views last_img read more

Go back to the enewsletter Nihiwatu has announced

first_imgGo back to the e-newsletterNihiwatu has announced two special offers, valid from 1 September to 20 December 2016: Stay 7, Pay 5 nights or Stay 4, Pay 3 nights – ideal for extending stays and enjoying more of the truly special place that is Nihiwatu.Nihiwatu is a truly unique experience – a chance to relax and reconnect with a simpler, healthier and more mindful life. Located on the Indonesian island of Sumba and just a 50-minute flight from Bali, Nihiwatu offers a remote and pristine setting in which to enjoy barefoot luxury, a myriad of activities and natural surrounds.An outpost to world-class surfing, Nihiwatu also offers snorkelling, stand-up paddle boarding, nature walks, sunset horseback rides on the resort’s 2.5-kilometre private beach, hikes to nearby waterfalls, and more. Another out-of-this-world destination is the Nihi Oka Spa Safari, where a 90-minute hike through rice paddies sees guests arrive to a cluster of private bales nestled between two private beaches.Both offers are inclusive of:All meals: breakfast, lunch, dinner, afternoon teas and coffeesAll non-alcoholic beveragesWi-Fi internetScheduled excursions and activities on land: trips to local Sumbanese villages in Rua / Lamboya and Sumba Foundation Projects; treks to nearby Weihola, Lamboya and mountain bikingActivities by sea: stand-up paddle boarding and snorkelling around Nihiwatu beach (when weather conditions permit)All guests can participate in Nihiwatu’s daily scheduled group yoga classesTerms and conditions:Staying period from 1 September until 20 December 2016Flights from Bali to Sumba (return) are at an additional charge of US $550 per person including transfers to and from the resortRoom is subject to availabilityCannot be combined with any other promotionRate is exclusive of 11 per cent government tax and 10 per cent service chargeGo back to the e-newsletterlast_img read more