Credit Card Glossary: Terms and Definitions
National Consumer Assistance Plan
The National Consumer Assistance Plan is a broad overhaul of the credit reporting system by the three major credit bureaus, Experian, Equifax and TransUnion. It is the result of a 2015 settlement between the companies and a group of state attorneys general. Under it, credit bureaus no longer accept records that lack either a birthdate or Social Security number, eliminating many public records previously included on credit reports. The reforms also erased medical debts, traffic tickets and fines not covered by a contract or agreement with the consumer; made dispute handling more responsive and required more information about debts in collection. For more details, see the story “Credit reports to raise standards to improve accuracy.”
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.