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FTC: Credit Report Errors Result in Less Favorable Loan Terms

A recent study by the Federal Trade Commission determined that, for five percent of consumers, credit report errors led to them paying more for products such as auto loans and insurance.

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FTC: 5 Percent of Consumers Have Erroneous Credit Reports

A new FTC study on credit report accuracy found that one in five consumers had an error on at least one of their credit reports.

Equity Firm Acquires White River, Subprime Auto Finance Subsidiary

In a $79.5 million deal, an affiliate with Parthenon Capital Partners acquired White River Capital and its subsidiary Coastal Credit LLC.

CNW: October Used-Car Sales to Remain Strong

The continued loosening of credit standards is helping franchised dealers move those high-mileage trade-ins, with CNW predicting that used-vehicle sales in October will top the year-ago period by 8.1 percent.

S&P/Experian: Auto Loan Default Rate Rises in September

Auto was the only loan type to show an increase in its default rate, but officials with the S&P/Experian Consumer Credit Default Indices don’t seem concerned.

CarFinance Secures $200 Million Credit Line

CarFinance Capital LLC announced that it has secured a $200 million warehouse credit facility from Deutsche Bank and Credit Suisse.

U.S. Consumers Paying Down Debt, Remain Cautious, Equifax Reports

Equifax reported that nearly 60 of the top 100 metropolitan statistical areas hardest hit by credit card debt realized double-digit declines in the percentage of income owed to credit card companies — nearly 24 percent in some areas.

Flagship Credit Renews and Increases Credit Facility

Flagship announced that it has entered into an agreement with Wells Fargo Bank to renew and increase its commercial credit facility to $175 million.

U.S. Consumers Doing Better at Paying Credit Card Bills

A report by Equifax indicated that U.S. consumers continue to make timely payments and pay down their retail credit card and bank card balances, resulting in a significant drop in the number of card write-offs vs. 2010 levels.

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Consumer Credit Risk Declines for Seventh Straight Quarter, TransUnion Reports

TransUnion’s Credit Risk Index declined for the seventh consecutive quarter, which the credit reporting agency partially attributed to low demand for credit. The one bright spot was demand for auto credit.