LYCOS RETRIEVER
Credit Reporting Agency
built 655 days ago
The Credit Reporting Workgroup conducts conference calls bi-weekly, holds bi-monthly meetings and sponsors workshops every trimester to develop data exchange standards and protocol. On March 12- 13, 2001, the Workgroup met with Freddie Mac and Fannie Mae in Washington, D.C. to discuss version 2.0 of the XML Standards Guide. On Wednesday, April 18, Bixby will be on the MISMO-a-Go-Go panel at MBA's Technology Show, DiscoTech. In addition to discussing MISMO as an organization, Bixby will specifically address application of the XML standards.
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In 2004, the Federal Reserve published a report entitled Credit Report Accuracy and Access to Credit, which examined, in detail, the credit reporting industry and the problems with data accuracy. Please read the report (in PDF or in HTML) for their detailed analysis.
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As a public service, the staff of Credit.com posts this version of the Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq. prepared by the Federal Trade Commission. This version uses FCRA section numbers (§§ 601-625) in the headings (The relevant U.S. Code citation is included with each section heading and each reference to the FCRA in the text.)This document is intended only as a convenience for you and not a substitute for the actual text in the U. S. Code. The Commission’s website ( www.ftc.gov ) posted this document on October 20, 2006.
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The Credit Reporting Workgroup is responsible for the recently published version 1.1 XML Standards Guide, the document that standardizes technology and communication for credit reporting in the mortgage industry. Bixby is ... the author of the Credit Reporting Implementation Guide, the publication that instructs the mortgage industry on implementing the Version 1.1.
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Dispute settlements should cover credit reporting issues. Settlements should have language that either requires the creditor to withdraw the entire report of the disputed debt, or permits reporting the debt but requires the creditor to take steps to avoid having unfavorable information about the debt included in any credit report. There is model language for such settlements.
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The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system.
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