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January 4, 2017 - Industry News

CFPB Orders TransUnion and Equifax to Pay $23.1 Million for Deceptive Practices

The Consumer Financial Protection Bureau (CFPB) this week took action against Equifax and TransUnion, ordering the two credit reporting agencies and their subsidiaries to pay more than $17.6 million in restitution for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The two firms were also ordered to pay $5.5 million in fines to the regulator.

Tags: CFPB, Credit Agencies, Credit Report, Dodd-Frank Act, Equifax, TransUnion

February 14, 2013 - Industry News

FTC: 5 Percent of Consumers Have Erroneous Credit Reports

A new FTC study on credit report accuracy found that one in five consumers had an error on at least one of their credit reports.

Tags: auto loan, automotive, consumer, Credit, Credit Report, error, FTC, insurance

December 13, 2012 - Industry News

CFPB Asking Lenders to Test New Consumer Disclosures

The Consumer Financial Protection Bureau proposed a new policy that will exempt finance sources from federal disclosure rules if they agree to conduct real-world trials of new consumer disclosures.

Tags: CFPB, Credit Report, customer disclosures

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