Is The Financial Literacy Movement Just an Illusion?

Crash and Burn Is The Financial Literacy Movement Just an Illusion?

Let’s start with some basic history about the financial literacy movement;  in the United States, the movement really started to pick up steam in 1995.  That’s when former Chairman and CEO of Ford Motor Credit, William E. Odom, was credited with the concept that led to the formation of the Jump$tart Coalition.  And no; that’s not a typo in their name.  The S they use is really the key for money $!

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What the FTC Didn’t Say in Their Study of the U.S. Credit Reporting Industry

For those of you who are not aware, the Federal Trade Commissions (FTC) earlier this week released a study of the U.S. credit reporting industry and quite frankly, nothing in it has any shock value that I can see.  The numbers may have changed somewhat, but the outcome is the same as in studies of years past: mistakes continue to happen!

In the FTC website, Charles Harwood, Acting Director of the FTC’s Bureau of Consumer Protection goes on to say, “Your credit report has information about your finances and your bill-paying history, so it’s important to make sure it’s accurate. The good news for consumers is that credit reports are free through annualcreditreport.com and if you find an error, you can work with the credit reporting company to fix it.”

I Don’t Think So

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The ONE Thing to Know About Your Credit Report? Sorry 60 Minutes – I Don’t Think So!

60 Minutes 40 Million Mistakes The ONE Thing to Know About Your Credit Report?  Sorry 60 Minutes – I Don’t Think So!

Just watched an excellent piece on 60 Minutes about the big 3 credit bureaus – Equifax, Experian, and TransUnion – titled; 40 Million Mistakes: Is your credit report accurate?  Any time I see a reputable and award winning newsmagazine like 60 Minutes taking this subject on, I have to applaud them.

Yet, I’m always left thinking the same things at the end; why didn’t they take this further; why didn’t they give the average amateur consumer watching,  some actionable intelligence they could actually use when disputing credit errors?

Why Didn’t 60 Minutes Call in the Big Guns?

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