WYDEN, MERKLEY, COLLEAGUES DEMAND MAJOR CREDIT BUREAU CEOS PROTECT STUDENT LOAN BORROWERS

WASHINGTON, June 24 -- Sen. Jeff Merkley issued the following press release:

U.S. Senators Ron Wyden and Jeff Merkley joined Democratic Senate colleagues today in demanding the CEOs of three major credit report bureaus, Experian, Equifax, and TransUnion, immediately take steps to fix their firms' administrative and technical issues that have burdened student loan borrowers with inaccurate credit report errors and higher interest rates.

"If just one data point is reported incorrectly by the servicer and the credit reporting company does not address the error, a borrower's credit score could be adversely affected," the senators wrote. "Borrowers with incorrectly low credit scores may be wrongfully denied access to mortgages, rental opportun...