It is therefore surprising that the push to reform credit bureaus only seems to come from consumer advocates, Salinger said. "I would expect the credit bureaus' customers -- business users -- to want that information to be as accurate as possible."
Clearly, mistakes affecting consumers have a greater impact. A person could be required to pay a much higher interest rate for a car loan, or tens of thousands of dollars more for a mortgage, or be shut out of the lending market altogether.
Auto insurers also routinely use credit scores in developing their pricing methodologies, Salinger said.Previously, Matt's bumped in to the same issue, which was featured on Marketplace.
Here's the FTC's page on how to fix errors on your credit report.
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