In July 2024, the United States Court for the District of Massachusetts dismissed a pro se litigant’s claims against Experian Information Services LLC (Experian), TransUnion LLC (TransUnion), and Equifax Information...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
American Banker has reported that beginning in the next few weeks, Equifax will add a business industry code for buy-now-pay-later (BNPL) transactions to allow such transactions to appear on credit reports. It also reported...more
The best way to find out if you have been the victim of identity theft and to determine what accounts may have been opened in your name by criminals is to get a copy of your credit report....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
Consumer advocacy groups are questioning the purported benefits of H.R. 435 the “Credit Access and Inclusion Act of 2017,” a bill that passed with bipartisan support in the House of Representatives in June, and is currently...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
The barrage of bad news for Equifax Inc. keeps getting worse. Here’s a recap of yesterday’s events: ? Mass AG Files Lawsuit – In the first enforcement action filed against Equifax Inc., the Massachusetts Attorney General...more
Last week, the Eleventh Circuit affirmed the Northern District of Georgia’s dismissal of a putative Fair Credit Reporting Act (FCRA) case against Equifax and Transunion. In Pedro v. Equifax, Inc., plaintiff sought to...more
On May 24-25, the NAIC Cybersecurity (EX) Task Force held an interim meeting to hear comments from various industry trade organizations and other interested parties on the proposed Insurance Data Security Model Law exposed...more
I am fortunate to teach the Privacy Law class at Roger Williams University School of Law on Tuesday afternoons. Yesterday, we discussed all of the laws relating to the financial services industry. OK, not the most exciting...more
Last week, Ohio Attorney General Mike DeWine issued a press release announcing the results of a multi-state investigation into the three national credit reporting agencies (CRAs) - Equifax Information Services LLC, Experian...more
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
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
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
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