On January 14, the Attorney General of New York published an assurance of discontinuance between itself and a credit reporting agency resolving an investigation related to an alleged coding error that caused the credit...more
On August 7, in Frazier v. Equifax Information Services, LLC, the United States Court of Appeals for the Seventh Circuit affirmed a lower court’s decision to grant summary judgment to defendant Equifax, a consumer credit...more
Credit reporting agencies TransUnion, Experian, and Equifax have extended their programs to provide consumers with the ability to access their credit reports for free on a weekly, rather than yearly, basis....more
Alert May 18, 2020 The economic impact of COVID-19 has already proven catastrophic for many businesses and consumers. Many employers are reducing their staffing or closing their doors permanently. As of May 8, 2020, the...more
On February 27, the Ninth Circuit affirmed a jury verdict against TransUnion in a class action involving alerts that TransUnion included in certain consumers’ credit files that falsely indicated they might be on a national...more
Federal legislation recently took effect that prohibits consumer reporting agencies from charging a fee to place or remove (lift) a security freeze on a consumer credit report in response to a consumer request. ...more
The New York Department of Financial Services (“NYDFS”) has adopted a regulation that requires “consumer credit reporting agencies” (“CCRAs”) to register with the NYDFS, prohibits CCRAs from engaging in certain practices, and...more
Underwriters that rely on popular credit-scoring models like FICO and VantageScore to assess risk may have noticed that some consumer credit scores jumped recently. The nationwide credit reporting agencies, Equifax Inc.,...more
An Assistant Illinois Attorney General, in a letter sent to Experian’s CEO on behalf of the Illinois AG and the AGs of 35 other states and the District of Columbia, has asked Experian not to charge any credit freeze-related...more
On Thursday, February 25, 2016, the CFPB held a Consumer Advisory Board meeting in which it outlined its forward-looking supervision and enforcement priorities. After the Board meeting, the CFPB published a summary of these...more