CFPB Informs Consumers about Credit Guidelines
A University of Tampa finance and accounting degree graduate, Harry Hedaya began working as an executive vice president for Beverly Hills Securities in Encino, California, in 1990. A cofounder and former director of the Loan Corporation, a direct mortgage lender based in Tampa, Florida, Harry Hedaya has based his career in consumer financial services on his deep understanding of consumer credit. According to the Consumer Financial Protection Bureau (CFPB), a key concept in consumer credit is the credit score, which predicts how likely consumers are to repay their loans on time. Companies use credit scores to approve mortgages or to issue credit cards. Higher scores mean better credit, with easier access to loans. Individuals with good credit scores also typically can borrow money at lower interest rates. The CFPB provides guidelines to help consumers get and keep strong credit scores. These include promptly and consistently paying your bills, keeping your credit balances low, having a long credit history, and only applying for the credit that you need.
