credit report

8:51 am
Wed May 8, 2013

McCaskill holds hearing on 'Kafkaesque' credit report system

Screenshot from a Senate stream of the hearing.

Originally published on Tue May 7, 2013 6:36 pm

Millions of consumers have an error on their credit report. In response, Democratic Senator Claire McCaskill of Missouri held a hearing Tuesday on the consumer report industry.

One out of every five consumers has an error on at least one of their major credit reports, according to a study released a few months ago by the Federal Trade Commission. Those errors can cause consumers to pay more or be denied credit or housing.

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