NBCNews.com – New Steps Announced to Fix Costly Credit Errors

Tawanna Sellers is a food service employee at a Washington, DC high school. But she’d like to be out here, among the ranks of food truck owners.

The reason Tawanna isn’t is because she got a bad credit report and can’t get a loan for her business. “There was a lot of stuff on there – some of it didn’t belong to me,” Sellers said. “And some were a lot of mistakes.”

She’s not alone – a recent study found that 79 percent of all credit reports have some type of error.

To watch the full video highlighting LEDC and how consumers can now file complaints with the Consumer Financial Protection Bureau if they are unable to resolve a credit dispute with a credit reporting agency, click here.

 

Keynote Speaker Stuart Ishimaru Calls for “Bridge” Between Banking Sector and Civil Society at Banking on Change Breakfast

More than 100 representatives from the private, public, and nonprofit sectors came together Tuesday morning for LEDC’s First Banking on Change Breakfast at the Pavilion Room at the Ronald Reagan Building and International Trade Center.

The event, which broadly explored how to increase the participation of low-to moderate-income communities in the financial services industry, featured a keynote speech from Stuart Ishimaru, the new Director of the Office of Minority and Women Inclusion at the Consumer Financial Protection Bureau.

Ishimaru, known for his decades of work in the civil rights arena, challenged members of the traditional banking sector to see their nonprofit partners as allies in helping to diversify access to critical financial products that help families prosper.

“You’re not doing this alone,” Ishimaru said. “There are plenty of civil society groups like LEDC that can serve as a bridge to understand what the language and cultural needs [are of low- to moderate-income communities.]”