Fair Credit Reporting Act Case Study

Isabella Langley is about to graduate college and excited to begin her job. Isabella graduation is near and realizes the financial situation is not what she dreamed it would be. The negative and positive behavior for credit review isabella’s credit report. Isabella’s should take in order to improve her credit report would be to make all of her payments on time, work to pay off her debt, and check her credit score more often.

My grand mother had her identity stolen once. We found out the elderly are a common victim of identity theft. An entire year went by before she knew her identity was stolen and the only reason she found out was because she found out she was missing money from her account each month to the point that her mortgage payment was not being paid in full each month. She was under the impression the bank took care of everything, her husband was taking care of the finances but he passed away so everything started to unravel. Once she found out she owed the bank a lot of money toward her mortgage and was very behind on payments. She never found out who did it, had to get all new cards and numbers, and is still paying for it today.

The reporting party (RP) stated she held a telephone interview with Aurora Drake DOB: 9/1/98. The RP stated Aurora disclosed shortly after her placement in the facility on 9/24/14 she observed the residents smoking in the back yard of the home. According to the RP Aurora began smoking shortly after the encounter. Aurora stated a staff person named Kate would supply her with cigarettes. Aurora stated she observed a staff person named Shawna share the same cigarette with a resident named Austin. The RP stated Aurora was constantly belittled and harassed. The RP asked Aurora of incidents of her interactions with staff. Aurora stated around last Christmas after returning from a visit with her mother, staff person Kate called her a "spoiled little bitch.' The

* Get customer data from whatever sources are available, loading it onto our systems and analyzing it

The Federal Fair Credit Reporting Act (“FCRA”) provides borrowers with consumer rights and protections including the right to dispute inaccurate or incomplete information with the consumer-reporting agency or with the furnisher (Residential Credit Solutions, Inc.) directly. This law requires RCS to review the dispute including supporting evidence provided with the dispute. The furnisher must investigate the disputed information and provide its findings to the consumer-reporting agency or to the borrower.

The reporting party (RP) stated resident Frank Barrell DOB: 6/5/33 was admitted into the facility on 11/15/16 and passed away on 12/15/16. The RP disclosed the facility failed to offer the resident food. According to the RP, Mr. Barrell was a Hospice resident and would sleep several hours a day. Consequently the facility had failed to wake Mr. Barrell for his meals and not provide meals for him in his room. The RP stated when her employee would arrive and asked Mr. Barrell if he had eaten he would respond "no." Furthermore, the RP disclosed of an incident when an employee arrived after 10AM and Mr. Barrell had not had breakfast. The hospice employee went to the kitchen in search of food and was informed due to the resident sleeping through

3. Have you, a family member, or a friend been a victim of identity theft? How did it happen? Describe the resolution process- ex. how much time did it take, what credit damage was corrected?

The reporting party (RP) stated on 12/17/16 foster mother Cheryl Lamb was mopping the floor while foster children Michael and Caleb were outside. Later the minors wanted to enter the home and were asked by the foster mother to put on sock due to the wet floor. Caleb complied and put on his sock and went inside the home, however, Michael was defiant and refuse to put on the socks. Michael was informed to put on the sock or to wait until the floor dried. Conversely Michael chose not to put on the sock and walked backwards on the floor, falling on his bottom. Michael stated he was pushed by the foster mother, thus he fell. Reportedly Michael has several behavioral problems and was moved to another FFA placement by his assigned social worker Madeline

The reporting party (RP) stated his wife Charlene Anderson has residing in the facility for 7 months. Charlene has been assigned to the "memory unit" and suffers from partial blindness. The RP stated he received a phone message from Charlene stating 'urgent, urgent." When the RP returned Charlene's call she disclosed she was in serious pain due to her arm being twisted by staff member Sara Duarte during the night shift. According to Charlene the staff member became angry and twisted her arm for not moving quickly while preparing for her shower. The RP notified the Simi Valley Police and immediately drove to the facility. When the RP arrived to the facility he observed Officer Eric Owen talking with Charlene. Charlene reported her arm and shoulder

The Truth in Lending Act (TILA) protects one against inaccurate and unfair credit billing and credit card practices. It requires lenders to provide you with loan cost information so that you can comparison shop for certain types of loans. People have a right of rescission for loans covered under TILA, which allows you three days to reconsider your decision and back out of the loan process without losing any money. This right helps protect people against high- pressure sales tactics used by unscrupulous lenders. Companies that would lend you money are under certain obligation to provide you basic information about the loan in clear and understandable terms. The most commonly

A brief history into its creation is when this all began when the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) was put into place July 21, 2010 by President Barrack Obama, in order to combat the Great Recession. This act requires the Consumer Financial Protection Bureau (CFPB) to issue rules and systems that organize certain disclosures provided to consumers when applying for and closing a mortgage loan under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). The Truth in Lending Act (TILA) was brought into effect May 29, 1968 as a United States federal law, which was designed to promote informed use of consumer credit, by requiring disclosures about its terms and cost to standardize

* Keep concise records and ensure these are discussed openly with the customer. This ensures they are aware

The Consumer Financial Protection Bureau was created in 2010 as a response to the financial crisis of 2008. The government agency was established by the Dodd-Frank Act which President Barack Obama passed as a means of controlling and preventing excessive risk-taking ("Wall Street Reform: The Dodd-Frank Act"). The financial crisis occurred in part because of the limited regulation of financial institutions and the wave of irresponsible mortgage lending (The Economist). Subprime borrowers with poor credit histories and insufficient funds for repaying the loans were allowed to borrow money which they could not pay back, thus in turn initiating a nationwide housing market crash (The Economist). Many of these borrowers were granted these loans because of the poor judgement of banks and financial institutions, thus the government needed to create an institution which would protect consumers against unfair and deceptive practices. The mission of the Consumer Financial Protection Bureau is just that-to protect consumers in the financial marketplace by enforcing federal consumer financial laws (CFPB, 2016). In order to achieve this, the bureau monitors the financial market for potential risks to consumers and supervises companies in order to uncover institutions practicing abusive and fraudulent acts. Developing laws to create a fair market place is a top priority of the bureau, as it works to enforce these rules and regulations and make them more effective. The agency also conducts

Bata uses sales management and customer support in the CRM system to gather data about their customer and used to facilitate customer service transactions by making the information needed to resolve the issue or concern readily available to those dealing with the customers. This results in more satisfied customers, a more profitable business and more resources available to the support staff. Furthermore, CRM systems are a great help to the management in deciding on the future course of the company. (Andrew, 2011). In order for Bata to increase their profit they are trying to maximize their customer

Today, customer relationship management is very important to the business world. Most of the companies established a department and the programs to manage their relationship with the customers. Customer relationship management (CRM) is a business strategy which designed to help a company to understand and look forward to the needs of its potential and current customers (Anderson & Stang, 2000). Customer data is being collected in several different areas of the company, stored in a central database, analyzed, and distributed to key points (Anderson & Stang, 2000).The business world once was “product-centric”, the companies just provided what they could produce. However, it is now become “customer-centric”, they provide products and service