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Quality of Consumer Credit Information: PERC report and FTC Report Share a Number of Similarities

Results from the 2011 Policy and Economic Research Council (PERC) report U.S. Consumer Credit Reports: Measuring Accuracy and Dispute Rates are similar to the recently released Federal Trade Commission (FTC) report on the accuracy of consumer credit reports maintained by the three nationwide consumer reporting agencies (CRAs). PERC released a white paper, Comparing FTC and PERC Studies on Measuring the Accuracy of U.S. Consumer Credit Reports, that compares the two studies’ methodologies and results.

“Both studies find that while the likelihood that a credit report contains an error of any kind may not be that uncommon, the likelihood that credit reports contain errors with large credit score and material impacts is low,” said Dr. Michael Turner, PERC president and CEO. “The strong similarity in findings between the PERC and FTC studies—despite some methodological differences—corroborates and validates each.”

The paper Comparing FTC and PERC Studies on Measuring the Accuracy of U.S. Consumer Credit Reports  is available online

Source:  PERC

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