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CIC BlogTwo Credit Bureaus Misled Consumers About Value of Credit Scores They Sold: CFPB

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If you want to know the credit score that potential lenders are looking at, any old credit score won’t do. Unfortunately, the Consumer Financial Protection Bureau (CFPB) says that distinction wasn’t made clear by two of the three major credit reporting bureaus. In fact, the CFPB says TransUnion and Equifax suggested just the opposite, misleading consumers into believing the scores they were buying from them were those typically used by lenders when, in the majority of cases, lenders rarely use those scores in making their lending decisions.

The post Two Credit Bureaus Misled Consumers About Value of Credit Scores They Sold: CFPB appeared first on Creditinfocenter Blog.

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