Tag Archives: Charge-Offs

What is the Fair Credit Reporting Act (FCRA)? The Fair Credit Reporting Act (FCRA) is a federal law that regulates the collection, dissemination, and use of consumer credit information. FCRA applies to all credit reporting agencies, including the three major credit bureaus: Equifax, Experian, and TransUnion. The purpose of the FCRA is to ensure that consumer credit information is accurate, …

July 2023 was an important month for the banking industry, with several banks releasing their financial reports. In this article, we will take a closer look at the financials of some of the major banks and analyze their performance. Bank of America Source: bing.com Bank of America reported a net income of $8.1 billion for Q2 2023, compared to $7.3 …