Tag: Report
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Equifax error on credit scores causes financial chaos for affected customers: Report
A three-week-long coding issue for credit reporting agency Equifax between March and April left millions of consumers with incorrect credit scores, The Wall Street Journal reported Tuesday. The error occurred in a legacy on-premise server slated to be migrated into the company’s new data cloud. In a statement on its website, Equifax noted that “We…
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U.S. Bank opened fake accounts under customer’s names to meet sales goals, report finds
U.S. Bank pressured employees to open fake accounts in customers’ names to meet unreasonable sales goals, the Consumer Financial Protection Bureau said Thursday. In a policy that went on for at least a decade, employees were encouraged to open savings accounts, checking accounts and credit cards without customer permission in an attempt to sell multiple…
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Ford to cut 8,000 jobs to increase investment in electric vehicles: Report
Ford is expected to cut 8,000 jobs in the next few weeks to dedicate more funding for the company’s electric vehicle projects, according to a new report. Bloomberg News reported that the cuts will be mostly concentrated in the company’s Ford Blue unit that focuses on gas-powered cars, such as the F-150, Mustang and Bronco…