The Federal Trade Commission has issued a final rule that requires the three major credit-reporting agencies to provide consumers with a free copy of their credit report once every 12 months.As mandated by Congress, the final rule requires Equifax, Experian, and Trans Union to create a centralized facility that consumers can contact by mail, the Internet, or a toll-free telephone number to request a free credit report. Access to free credit reports is being phased in, however, and it will not be universal until Sept. 1, 2005. Eligibility for free reports depends on the state where the consumer lives. Western states will become eligible on Dec. 1, 2004; Midwestern states on March 1, 2005; Southern states on June 1, 2005; and Eastern states and all U.S. territories on Sept. 1, 2005.
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Government officials confirmed the California Democrat is under scrutiny over a long-held Maryland property he designated as a second home in 2020.
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Credit availability declined in June as the job market and rising delinquency figures have some lenders concerned, the leading mortgage trade group said.
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The Ocean State is the latest to enact rules prohibiting the agreements that end up tying older homeowners to long-term contracts with real estate brokers.
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CEO Robin Vince refused to comment on "rumors or speculation" about a potential merger between the custody banking giant and its smaller rival, Northern Trust. He also said that the bar for BNY to engage in M&A is "very high."
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House Financial Services Committee Chairman French Hill promised to begin combing through Dodd-Frank to find areas for deregulation, while the panel's ranking member made it clear that Democrats would fight for the Consumer Financial Protection Bureau.
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Gain on sale at JPMorgan Chase fell by 5 basis points in the second quarter, which could be a slightly adverse sign for mortgage banker results, KBW said.
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