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Credit Rating Agencies Agree To Change Process For Reporting Errors

The three major credit rating agencies reached an agreement with New York Attorney General Eric Schneiderman on Monday to change the way they handle errors on credit reports. Under the reforms, consumers can initiate a formal dispute to challenge inaccurate information and agencies must use trained employees to investigate the complaints.

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NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered, and Weekend Edition. He joined NPR in 1996 and was based in San Francisco before moving to Boston in 2001.