Reported about 11 hours ago
Many consumers, despite paying off their credit card balances fully each month, are unfairly viewed as riskier borrowers due to their credit reports not reflecting this behavior. A recent study reveals that major credit card companies have stopped reporting monthly payment data to credit bureaus to avoid competition, which has resulted in consumers receiving poorer credit offers. The lack of this data prevents borrowers from being rewarded for responsible financial behavior, and the Consumer Financial Protection Bureau (CFPB) may not have the authority to mandate its return under future administrations.
Source: YAHOO