GOVERNMENT WARNS ABOUT FREE CREDIT REPORTS

GOVERNMENTS WARNS ABOUT FREE CREDIT REPORTS

Specialty Reporting Agencies to Adhere To The Law

The List of All 41 Specialty Reporting Agencies

Collecting Medical Data???

If you were to go to the website for your free credit report (WWW.ANNUALCREDITREPORT.COM) , you will notice there are only the three major bureaus –Experian , Equifax and Transunion – in which you can check your credit and receive a free credit report once per year.  The consumer financial protection bureau (CFPB) (out of the newly enacted Dodd-Frank Act) has just issued and delivered a new bulletin to the specialty credit reporting agencies that they, too, have an obligation under the Fair Credit Reporting Act (FCRA) to provide free access to these special reports.  In this bulletin sent to these specialty credit reporting agencies, the companies must provide a “streamlined process for consumers to request a free annual consumer report.”  The CFPB took a look at many of these agencies practices and came to the conclusion that several may be violating the law.

John Mackey, the Founder and Executive Director of Master Credit Solutions, a national credit education and credit restoration company located in Minneapolis, Minnesota, states, “This is a big step in the right direction.  We have needed, for so long, full disclosure, and application of the FCRA to the specialty credit reporting agencies.”

Mackey further states, “What people will find amazing is the kind of data these companies are collecting and selling behind your back.  Most of us know that the three major reporting bureaus are Experian, Transunion and Equifax.  Some people are not aware there are companies, specialty reporting agencies that collect data about your checking and banking practices.  Did you know they are reporting on sub-prime consumers, insurance coverage, personal property, auto, your name address and telephone, your telecommunications, pay TV, utility services? “

“Here is the Coup De Grace:  There is a specialty reporting agency that collects data on your prescription drug purchases and about your medical conditions.”

It is relatively easy to get your free report for the three major bureaus – Experian, Transunion and Equifax - throughhttp://www.annualcreditreport.com.  How do you get access to all 41 specialty reporting agencies that collect data on you?  You can get this information at the CFPB website or you can go to www.MASTERCREDITSOLUTIONS.com and click on CFPB report.