Stuff to Blog About and More: In the News, September 15, 2008

Recession-like Trouble on Wall Street

Two giants on Wall Street have taken a major fall. Lehman Brothers says it's filing bankruptcy and Merrill Lynch will be sold to Bank of America. The changes will add to an all ready threatened U.S. financial reeling from woes at other major financial firms and mortgage financing titans Fannie Mae and Freddie Mac.

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Train collision caused by Text Messaging Engineer.

Kitty Higgins of the National Transportation Safety Board says that investigators have been in touch with two teenagers who told a local television station that they had been exchanging text messages with the Metrolink train engineer before the impact. Federal investigators say they plan to obtain the cell phone records of two teenagers and the engineer of a commuter train to determine whether text messages played a part in a head-on collision that killed 25 people in the LA area.

The engineer, who has not been identified officially, was a subcontractor employed by another company and died in the crash.

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HEY HEY
Carlos Zambrano pitched the first no-hitter for the Chicago Cubs in 36 years, returning from a sore rotator cuff. The Cubs shut down the Houston Astros 5-0 in a game relocated because of Hurricane Ike.

"I guess I'm back!" Zambrano hollered.

FTC: Your Rights: Credit Reporting

The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months. The Federal Trade Commission (FTC), the nation's consumer protection agency, has prepared a brochure, Your Access to Free Credit Reports, explaining your rights under the FCRA and how to order a free annual credit report.

A credit report includes information on where you live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.

How do I order my free report?

You can order your free annual credit report online at annualcreditreport.com, by calling 1-877-322-8228, or by completing the Annual Credit Report Request Form and mailing it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

When you order, you need to provide your name, address, Social Security number, and date of birth. To verify your identity, you may need to provide some information that only you would know, like the amount of your monthly mortgage payment.

A Warning About "Imposter" Sites

The FTC advises consumers who order their free annual credit reports online to be sure to correctly spell annualcreditreport.com, or link to it from the FTC's website to avoid being misdirected to other websites that offer supposedly free reports,but only with the purchase of other products. While consumers may be offered additional products or services while on the authorized website, they are not required to make a purchase to receive their free annual credit reports.

For more information on free annual credit reports, read Your Access to Free Credit Reports.