Consumer Bureau Action Tracker

CFPB – Equifax Inc., Equifax Consumer Services LLC, TransUnion Interactive, Inc., TransUnion, LLC, and TransUnion


State

Nationwide

target

TransUnion Interactive, Inc., TransUnion, LLC, and TransUnion

Topics

Enforcement, Consumer Finance

The CFPB ordered credit reporting agencies TransUnion and Equifax to “pay more than $23.2 million in fines” for “deceiving consumers about the usefulness and cost of credit scores they bought.” TransUnion agreed to pay $13.93 million to consumers while Equifax agreed to reimburse $3.8 million to consumers. TransUnion agreed to pay a civil fine of $3 million while Equifax paid a civil fine of $2.5 million. Neither company admitted wrongdoing in the agreement.

  • On January 3, 2017, the CFPB “ordered credit reporting agencies TransUnion (TRU.N) and Equifax Inc (EFX.N) to pay more than $23.2 million in fines and restitution for deceiving consumers about the usefulness and cost of credit scores they bought.” [Jonathan Stempel, “U.S. fines TransUnion, Equifax for deceit over credit scores”, Reuters, 01/03/17]

Status

Inactive or Resolved


2017-CFPB-0002 1/3/2017 1/3/2017

CFPB Orders TransUnion and Equifax to Pay for Deceiving Consumers in Marketing Credit Scores and Credit Products
http://www.consumerfinance.gov/policy-compliance/enforcement/actions/transunion-interactive-inc-transunion-llc-and-transunion/

  • Consumer Financial Protection Bureau (CFPB)
  • Administrative filing
  • None
  • Nonbank
  • $16,930,000
  • Not Available

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