There is no shortage of news coming out daily about the Equifax's Equipocalypse and the impact it is having on the world. Ken goes into some detail in this video about the impact on consumer credit and mortgage industry with these changes. Below the video are links to stories and legislation we think you might find interesting.
Links of interest:
- Credit Score Competition Act of 2017 - Senate Bill 1685 and House Bill 898.
- Note this Opinion letter from the Consumer Data Industry Association for some industry insight to the FCRA Harmonization.
- Interesting article from Consumer Reports about the Class Action Lawsuits
- CNBC has been covering the lawsuits files.
- The SEC is one of the FED organizations in charge of investigating this Equipocalypse and they have something to say.
- Oh, and speaking of SEC - They were hacked in 2016 and just found out...adding insult to injury. And here's why it's a big deal.
Whew! As Ken says in the video, make sure to take any step you can to try to stop missuse of your information. Document and detail what you're doing just in case.
Check out our other videos: https://youtu.be/fRH64zymn2U
We'd love to hear from you! Please comment below or join the conversation on our Facebook page.
As always, thank you for liking and sharing our messages. If you have other topics you would like to see us look into please also leave those in the comments below.
Don't forget to grab your 2017 NMLS Approved CE on our website: https://goo.gl/B33tkDAs. All of our training is for Mortgage Professionals needing Continuing Education. Everything we offer is NMLS Approved and useful for credit hours.