UMSL gets $1.1M to study credit reporting agencies

ST. LOUIS, Mo. (AP) — Just how accurate is the information maintained by the major U.S. credit reporting agencies?

That’s a question that researchers from the University of Missouri-St. Louis plan to examine with a $1.13 million grant from the U.S. Federal Trade Commission.

The school says in a news release that one aim of the study is to provide information about the workings of the Fair Credit Reporting Act’s dispute resolution process. The act gives consumers the right to correct errors and block access to their personal records.

Researchers also will learn information about credit usage and payment behavior that will help them look for ways to educate consumers about using credit responsibly.

The university is collaborating with the University of Arizona in Tucson, Fair Isaac Corporation (FICO) and the U.S. Federal Trade Commission.

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