Equifax

News & Analysis as of

Big Three Credit Bureaus Announce Consumer Financial Assistance Plan

Earlier this month, Equifax, Experian and TransUnion announced the creation of the “National Consumer Assistance Plan,” which will, among other things, change the way these credit bureaus handle consumer disputes and report...more

NY Attorney General Enters into Far-Reaching Settlement with Largest Credit Reporting Agencies

New York Attorney General Eric Schneiderman recently announced that his office reached a landmark settlement with the nation’s three leading credit reporting agencies (CRAs) that will require them to significantly reform,...more

New York Attorney General and Credit Bureaus Reach Deal Affecting Furnishers of Information to Credit Bureaus

The New York Attorney General announced a settlement with credit bureaus Equifax, Experian and TransUnion regarding credit reporting policies and practices, including methods of addressing inaccuracies identified by...more

CFPB takes steps to protect foster care youth from credit reporting problems

To address concerns about the vulnerability of foster care children to credit reporting problems, the CFPB has published three action letter templates for child welfare caseworkers to send to credit bureaus if they find...more

Further Affiant Sayeth Naught: The Import Of Personal Knowledge In Class Certification Affidavits

The Eastern District of Virginia weighed in on the split among federal district courts as to whether affidavits in support of or in opposition to motions for class certification must be based on personal knowledge. The...more

Spotlight on Mississippi: Opportunity for Legislature to Level Playing Field

New proposed legislation has been introduced in the Mississippi State Senate to reform several laws that directly affect Mississippi taxpayers. The new bill, S.B. 2487, was introduced on January 21, 2014 by the chairman of...more

Mississippi Supreme Court: Tax Assessments Not Subject to Meaningful Judicial Review

On November 21, the Mississippi Supreme Court denied the taxpayer's Motion for Rehearing in Equifax, Inc. and Equifax Credit Information Services, Inc. v. Miss. Dept. of Revenue, letting stand the court's earlier ruling that...more

’60 Minutes’ Show Gets Facts All Wrong in Report on Credit Reporting Agencies

The credit reporting industry – dominated by Experian, Equifax and Transunion – maintains a precarious balance of obligations: On the one hand, these companies bear a responsibility to banks and other businesses at large to...more

Huge FCRA Verdict Against Equifax Shows Potential Costs of Failing to Protect and Correct Consumer’s Credit History

Last week an Oregon jury awarded an individual plaintiff over $18 million in compensatory and punitive damages in what some sources have reported to be the first jury verdict in a case brought under the Fair Credit Reporting...more

Mississippi Supreme Court Reverses Court of Appeals in Equifax Case

In a landmark (and somewhat surprising) decision issued June 20, the Mississippi Supreme Court reversed the Mississippi Court of Appeals’ decision in Equifax, Inc. and Equifax Credit Info. Services, Inc. v. Miss. Dep’t of...more

Is Equifax Selling Your Salary Information?

According to a recent NBC News report, Equifax, one of the three largest American credit reporting agencies, has assembled an enormous database containing employment and salary information for more than 190 million U.S....more

CFPB issues paper on credit reporting

The CFPB has issued a paper that describes the infrastructure and processes used by Equifax, Experian and TransUnion, the three largest nationwide consumer reporting agencies (NCRAs), to collect, compile and report...more

Privacy Breaches Can Be One-Two Punch for Employers: Arbitrator Awards Damages for Employee Credit Checks that Breached Privacy...

Twenty-six employees of the Alberta Justice and Attorney General’s Maintenance Enforcement Program (“MEP”) were each awarded $1250.00 in damages each after a Peace Officer carrying out a workplace investigation used their...more

FTC Reaches Settlement on Charges Under the Fair Credit Reporting Act and FTC Act Against Seller and Buyers of Consumer Financial...

Last week, the Federal Trade Commission, Equifax Information Services LLC and a company and its affiliates that purchased and resold customer lists of consumers who were late on their mortgage payments, settled charges that...more

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