Most consumers might not realize that the current credit reporting system operates as an obstacle which prevents many families from joining the middle class. (natlbankruptcy.com)
Specifically, the legislation enhances protections for consumers from fraud and identity theft related to the breach and addresses major flaws with the existing consumer credit reporting system by making changes that would enhance consumers» rights, create more transparency over the consumer reporting and credit scoring process. (nar.realtor)
Financial institutions might look at information from credit reporting systems like ChexSystems, which includes details on customer accounts as reported by banks and credit unions. (gobankingrates.com)