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CRA Reform Now! Read this

A new consumer study of the three major credit bureaus found that 29% of Americans have credit scores with a range of at least 50 points, while 4% of the consumers have score ranges of at least 100 points. The analysis of the scores in 502,623 merged credit files found the average range of the three scores was 41 points, and the median range was 35 points. The research conducted by the Consumer Federation of America and the National Credit Reporting Association,also discovered that in 43% of the files, reports on the same accounts conflicted in regard to how often consumers had been late by 30 days. In 29% of the files, there was conflicting information about how many times the consumer had been 60 days late. And in 24% of the files, conflicts existed about 90-day delinquencies. Seventy eight percent of files were missing a revolving account in good standing while one-third of the files were missing a mortgage account that had never been late.

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