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Tag Archives: Consumer Federation of America

Survey: Americans Don’t Know How Credit Scores are Calculated

In a study commissioned by VantageScore Solutions and the Consumer Federation of America (CFA), more than 1,000 representative American consumers were asked 19 questions designed to gauge their knowledge of credit scoring. While the findings illustrate respondents are aware of a handful of facts surrounding their credit score, there are still some major gaps in their knowledge.

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FTC Bans Deceptive Marketers from Selling Mortgage Relief Services

As part of an ongoing effort against scams that target financially distressed consumers, the Federal Trade Commission (FTC) has banned several marketers from selling mortgage modification or foreclosure relief services. According to the FTC, the marketers allegedly charged homeowners up-front fees and falsely claimed they could get their mortgage modified or prevent foreclosure on their homes. Settlements regarding these allegations have been met through three separate actions.

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