Business Services Industry

The Record, Hackensack, N.J., Your Money's Worth Column.

Knight Ridder/Tribune Business News, May, 2004

By Kevin DeMarrais, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News

May 2--NEW EAR TO HEAR GRIPES: In what seems a bit like giving the foxes the keys to the hen house, the Federal Trade Commission is putting credit reporting agencies in charge of handling consumer complaints about the agencies.

As a result of rules implemented nine days ago, when you complain to the FTC about mistakes in your credit files or lack of adequate response from the agencies, the people who made the mistakes or didn't correct them are responsible for clearing things up.

The three agencies -- Equifax, Experian, and TransUnion -- will be required only to "periodically provide reports to the FTC on the disposition of a sample of the...

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