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Equifax Incorporated
FTC: One of four consumers has a credit report error

Credit reports contain information about us that essentially will determine how much we pay for insurance, auto loans and other forms of credit. That’s because information in credit reports is used to generate credit scores, which lenders and others use to decide on what interest rate and other credit terms to offer us. That’s why a congressionally mandated report released today by the Federal Trade Commission is troublesome. The FTC found that one of four consumers has at least one error on one of the three major credit reports. And 5 percent of consumers had errors serious enough that they could be charged more for financial products as a result. Other FTC...