Aug 07, 2014
From the Advisory Institute
As the range and frequency of decisions that rely on credit reports have increased, so has the importance of assuring the accuracy of the reported consumer data. Inaccurate information may lead to incorrect actions which may impact both decision makers and consumers.
To provide insight into current industry practices and issues associated with credit bureau reporting, KPMG LLP's Credit Risk Management practice (U.S.) commissioned a survey in early 2014 of credit reporting agencies and other financial institutions that report information about borrowers.
Read this whitepaper for a summmary of the survey results, including:
- profiles of the survey participants
- analysis of responses to governance and oversight questions
- analysis of responses to reporting practice questions
- insight into credit data quality issues
- observations regarding common challenges and opportunities.