Klobuchar wants better credit reporting

Klobuchar wants better credit reporting Click to Enlarge Photo:

Feb 22, 2013 at 6:40 am

WASHINGTON (AP) Minnesota U.S. Senator Amy Klobuchar is calling for swift action to protect consumers from errors on their credit reports.

A recent report by the Federal Trade Commission found that over 25% of consumers’ credit reports contain major errors, often leading to less favorable loan terms or denial of credit.

In a letter to the three major credit rating agencies, Klobuchar urged them to take immediate steps to fix reporting errors and ensure accurate credit reports.

Klobuchar says consumers should not be denied a mortgage, passed over for a job, or forced to pay a higher interest rate because of a simple error on their credit report.

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