On March 28, 2017, the Consumer Financial Protection Bureau (CFPB) released its monthly complaint report. For the month of February 2017, the products and services generating the most complaints were debt collection, credit reporting, and mortgages, collectively representing over 60% of all complaints received. This is a shift over January, where the three most complained about products or services were debt collection, student loans, and credit reporting. On the whole, complaints decreased 10% compared to January 2017, with the bulk of the decrease stemming from a 51% decline in student loan complaints and a 10% decline in mortgage complaints.
The credit bureaus will change the way they include information about tax liens and civil judgments in credit reports. This could spur lenders' use of alternative credit data.
Leslie Jones says her credit scores are all across the board, high and low, and she has no idea how to find her true credit score. "The lowest score is 662, and the highest score is 745," Jones said.
Beginning in July, 12 million consumers will see increases in their credit scores thanks to criteria changes that drop some negative information.