Joint Trades Letter to House Financial Services on Credit Repair Organizations

The undersigned trade associations write regarding the increasing threat credit repair scams pose to consumers and the credit markets. Credit repair organizations exploit the most vulnerable Americans and inundate creditors and credit bureaus with meritless and duplicative claims that information in a credit report is inaccurate. These activities jam the credit reporting system with illegitimate claims that divert resources from authentic consumer disputes and cost Americans exorbitant amounts of money for no actual value.