FTC Says 5 Percent of Consumers Have Credit Report Errors, Leading to Costly Consequences

A Federal Trade Commission study released on Monday revealed that 5 percent of consumers had errors on one of their three major credit reports, potentially leading to higher costs for loans and insurance. It's a story familiar to Vernon Stanton III, 37, from Hobbs, N.M. Stanton said the credit bureaus mixed his credit history with those of other people with a similar name. When he moved to Kansas City, Kan., for a new job in 2000, he said he was rejected from rental properties because of his...Full Story