Credit complaints are growing…and growingConsumer dissatisfaction with credit reporting and repair services has grown recently, capturing the attention of the Consumer Financial Protection Bureau (CFPB). While complaints concerning other consumer services monitored by the CFPB (mortgage lending, debt collection) have remained relatively stable, credit reporting complaints rose by 336% between 2019 and 2022. USAFacts has an exploration of the causes of this surge.
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In 2022, the three major credit reporting services – Equifax, Experian, and TransUnion – received 542,673 complaints that consumers filed with the CFPB. This was about 90% of all consumer complaints the CFPB received last year.
See more here, including what the CFPB director said about the big three credit reporting agencies. | |
New at USAFacts: What’s the health of your state?
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What does a US credit rating downgrade mean?As previewed in last week’s newsletter, Fitch Ratings recently downgraded the US credit rating from AAA to AA+. In its decision, the agency cited expected fiscal deterioration, growing national debt, and erosion in governance standards over the last 20 years. Here’s a closer look at the history of the US credit rating and the various factors that influence these assessments.
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Learn more about the US credit rating in this article. | |
Data behind the newsHawaii is reeling from destructive wildfires that have killed more than 90 people (with hundreds of others still missing). This article from our archives has information on the states that are most affected by wildfires and how fires are getting more destructive according to the data. Then see the numbers on billion-dollar disasters in the US. USAFacts’ Sasha Anderson talked with Jessica Yellin from News Not Noise about gender equity after watching Barbie. Watch the video to hear the facts on how women’s wages compare to men’s, how many women are elected to public office, and more. Unionized writers and actors in Hollywood have been on strike since May and July, respectively. Disputes involve pay, among other issues. But how much do actors and writers make? Think you know the latest data from USAFacts? Take the weekly fact quiz. | |
One last fact | |
In 2019, households working for an employer had a median of $5,800 in retirement accounts. Self-employed households had a median of $1,100. However, self-employed households had more money in other accounts (and might have used those accounts to save for retirement). They had more than twice as much in their checking and savings accounts ($13,461 versus $5,010) and financial assets ($61,000 versus $24,455) and over four times the net worth ($379,743 versus $90,200) compared to households working for an employer. |
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