Lack of public records info has minimal effect on credit scores

The CFPB has posted an article on the agency's release of its latest quarterly consumer credit trends report, which focuses on last year's removal of most civic public records from consumer credit reports. The July 1, 2017, removal of civic public records that don't meet stricter standards for accuracy resulted from a settlement between the three nationwide consumer reporting agencies and 30 state attorneys general. One of the findings in the report—about 4 percent of consumers with civil judgments or tax liens on their credit record in June (only 0.24 percent of consumers overall) experienced a large enough increase in their credit score as the result of the settlement to move into a higher credit score band, meaning, for example, that their credit score moved from being subprime to near prime or from near prime to prime.