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Overhaul Boosts Credit Scores of Millions of U.S. Consumers

By Tony Seruga

Those with at least one collections account removed from their credit reports experienced an 11-point increase, on average

The credit scores of millions of U.S. consumers have risen following a broad overhaul of how credit-reporting firms handle negative credit information.

Consumers who had at least one collections account removed from their files experienced an 11-point increase, on average, in their credit scores, according to a report released Tuesday by the New York Federal Reserve. The report was based on a sample of millions of anonymous credit reports from credit-reporting firm Equifax Inc. Collections were completely removed from 8 million…

Overhaul Boosts Credit Scores of Millions of U.S. Consumers

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