Credit Builder Workshop 4-27-09 (FREE)

YOU ARE INVITED TO JOIN US!

justinePETERSEN & justBIZ are offering aFREE “Credit Builder Tune Up” WorkshopThe workshop includes a 45 minute workshop on how to build credit, a credit report, and a one-on-one session with our credit educators.

rsvp- ckluthe@justinepetersen.org

When: Monday, APRIL 27th from 3pm-5pmWhere: justBIZ @Emerson Park Metrolink

15th Street & Bowman AveEast St. Louis, IL 62205


Justine Petersen

Metro passes $189.2M transport budget

www.justinePETERSEN.org

Metro passes $189.2M transport budget
By Ken Leiser
ST. LOUIS POST-DISPATCH
04/17/2009

ST. LOUIS - Metro commissioners today passed a $189.2 million public transportation budget for the upcoming year, reflecting significant service cutbacks that were rolled out in March.

But Metro officials warned that bus, MetroLink and Call-A-Ride service could suffer further erosion in the future without a permanent, new source of funding.

"The problem has essentially been the lack of stable funding," said Metro Controller Kathy Klevorn. "For more than 20 years, Metro has struggled with a lack of stable, committed resources to meet the operating needs of the system."

The ongoing recession has eaten into sales taxes dedicated to Metro's transit services, Metro officials said.

St. Louis County voters defeated a half-cent increase to the transit sales tax in November, which would have generated about $40 million a year for transit operations. Following its defeat, Metro slashed transit service to hold off major budget shortfalls.

The cuts took effect March 30.

Earlier this week, Missouri lawmakers said they would consider a one-time, $20 million emergency appropriation for the upcoming budget year beginning July 1. If it is approved, Metro staff will return to the board of commissioners with an amended budget.

Law does not require lenders to report payment history

www.justinePETERSEN.org
Law does not require lenders to report payment history

Dear Max,
I was told by a bank that the law requires merchants and lenders to report data related to my credit. Can you point me to where I can find this legal information?

- LUK
Dear LUK,

The person you talked to at the bank was incorrect. Merchants and lenders are not required to report information about the accounts you have with them. Reporting information is strictly voluntary.


Companies choose to report because they are reliant on information from other companies to help them make sound decisions. They recognize that it is only fair for them to share the information if they are going to receive it. Voluntary sharing of information has been the basis for credit reporting since its earliest days, when local merchants shared their lending experiences verbally with neighboring stores.


However, the law does mandate what a business must do if it chooses to report information.


The Fair Credit Reporting Act (FCRA) defines what a business’s responsibilities are if it decides to report information to a credit reporting company, like Experian. Those responsibilities include not knowingly reporting inaccurate information, updating payment information regularly and responding to disputes about the accuracy of any information within a specified period of time, among others.


The Federal Trade Commission provides a thorough description of the FCRA requirement for reporting information on its web site.


Thanks for asking.
Maxine Sweet , VP consumer affairs
http://www.experian.com/