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Mar 13, 2015
The three major credit bureaus (Experian, Equifax, and TransUnion) have agreed to new guidelines for handling disputes on credit reports. According to this settlement, announced Monday by the New York Attorney General, credit disputes will now be handled by trained reviewers to determine what actually happened.
In the past, the consumer would report an error, and the complaint would be lodged by a computer. This would either get checked internally (about 15% of cases) or get passed along to banks, credit card issuers, or other firms. This caused a conflict...