Banks Feed

Credit score apps may come with extra costs and risks

Apps that provide access to credit scores may not offer all of the benefits users expect, and they can come with extra costs and risks that people may not foresee, Consumer Reports said. Americans can get access their credit reports for free once a year, but they don’t have a similar right to their credit scores, except in some cases. Read more →


Wells Fargo fined $25 million for failing to pay back customers

Wells Fargo has been fined $250 million by the Office of Comptroller of the Currency, which said the bank didn’t pay back customers who were charged excessive or improper fees. “Wells Fargo has not met the requirements of the OCC’s 2018 action against the bank,” said Acting Comptroller of the Currency Michael J. Hsu. Read more →


Credit scores and credit reports: What are they and can you positively influence them?

What’s the difference between a credit report and a credit score? A credit report is a record of your current and past debts, including your payment history. It’s used by banks, other financial institutions, and businesses to make decisions about your loan, rent, and sometimes employment applications. Read more →


More than a third of consumers found mistakes in their credit reports, survey shows

More than a third of consumers who recently checked their credit reports found mistakes in them, a survey found. Many of the nearly 6,000 consumers who participated also reported having difficulty getting their free credit reports online, while others said they were unfairly charged for services. Read more →


Biden signs sweeping order aimed at reining in corporate power

President Joe Biden signed an executive order Friday on promoting competition in the American economy. It launches a government effort to combat growing market power in the U.S. economy by seeking to ensure that markets are competitive. Read more →


Consumers who buy manufactured homes are charged higher interest rates, have more risks, and face credit barriers, report shows

Manufactured housing, one of the most affordable types of housing available to low-income consumers, makes up 13 percent of the housing stock in small towns and rural America. However, the lower cost of buying a manufactured home often comes with higher interest rates and limited opportunity to refinance. Read more →


Corporate prosecutions dropped to a 25-year low during last year of Trump administration

Corporations escaped punishment at record levels during President Trump’s last year in office, when federal prosecutions of corporate criminals fell to just 94 – the lowest on record since the government started tracking corporate prosecution statistics in 1996, a Public Citizen report found. Read more →