Changes required from the NY Attorney General’s settlement with the bureaus
This week an agreement was finally reached between the NY Attorney General and the Credit Bureaus. The good news is that there are changes that must be implemented at the bureaus and banks which will positively affect consumers. Here are a couple of the key changes coming:
- Bureau disputes are automated (scanned disputes are interpreted by software) – bureau employees will now be required to personally inspect the disputes; they will likely pass some of this burden to the banks
- There will now be a 6-month waiting period before medical debts can be reported
To read more about the settlement and changes coming, Read this article.