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New Standards Could Lead to Higher Credit Scores 

June 28, 2017

New standards come into place due to a recent report conducted by the Consumer Financial Protection Buereau. The report detailed several problems with the three consumer largest reporting companies. Equifax, Experian, and Transunion did not have sufficient quality control systems and did not take appropriate action when a client disputed something in their files. The CFPB suggested reform measures that would address these issues, thus increasing the accuracy of credit reports and credit scores.

On July 1st, there will be higher standards for new and existing public records. Part of this change involves many civil debts and tax liens being excluded. As a result, some people’s credit scores will increase.

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