Equifax Data Breach

Background Check Errors

Thursday, July 6, 2017

TransUnion to pay $60 million to consumers flagged as criminals


TransUnion will pay $60 million to consumers it mistakenly labeled as possible terrorists or drug dealers, under an order issued Tuesday by a federal jury.

 The decision stems from a 2012 class-action lawsuit that alleged the credit bureau failed to notify consumers who were reported to lenders as being included on a “blocked persons” list kept by the Treasury Department’s Office of Foreign Assets Control (OFAC). The list includes terrorists, narcotics traffickers, arms dealers and other criminals who are prohibited from doing business in the U.S.

Read more . . .


Thursday, May 18, 2017

Job applicants claim inaccurate background check report prevent them from finding a job


Have you been a victim of ID theft?  Check your credit report for errors at  www.annualcreditreport.


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Sunday, March 12, 2017

CFPB: SUPERVISORY HIGHLIGHTS CONSUMER REPORTING SPECIAL EDITION (ISSUE 14)


Supervision’s work in the consumer reporting market is ongoing and remains a high priority. Consumer reporting companies and furnishers have an obligation to maintain the accuracy of consumer data, but experience indicates that they lack incentives and under-invest in accuracy. Indeed, these most recent supervisory findings underscore Supervision’s concern about the lack of resources that furnishers in particular have devoted to this important function and the resulting violations of law. We have targeted substantial resources to improve the accuracy of consumer information, and we will continue to do so. We have observed steady progress at consumer reporting companies to improve data governance.
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Thursday, March 9, 2017

IF THE CFPB IS WEAKENED, WON’T THE CREDIT BUREAUS RUN AMOK (AGAIN?)


 You can also read Director Cordray’s full remarks on the report to the CFPB Consumer Advisory Board last week.

“Consumer reporting, also known as credit reporting, is an important market that for many years has not been very transparent and generally is not well understood by consumers. It is also one of the markets where people cannot vote with their feet by choosing another provider if they are dissatisfied, which means that industry incentives and practices are not always aligned with the interests of consumers.
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Thursday, March 9, 2017

CFPB Oversight Uncovers And Corrects Credit Reporting Problems


Bureau Report Outlines Accuracy and Other Issues That Bureau Supervision Has Taken Action to Address

WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) released a report detailing the problems in the credit reporting industry that the Bureau has uncovered and corrected through its oversight work. Since launching its supervision of the credit reporting market, the CFPB has identified significant issues with the quality of the credit information being provided by furnishers and maintained by credit reporting companies.
Read more . . .


Friday, March 3, 2017

Employer Commits Willful Violation of Fair Credit Reporting Act By Including Waiver In Statutorily Mandated Disclosure


In Syed v. M-I, LLC, the Ninth Circuit held that including waiver of potential claims language in the same document as the statutorily required Fair Credit and Reporting Act disclosure was a violation of FCRA.  In sum, the Court ruled that the FCRA rights notice cannot be combined with any other notice or agreement.  It must be a stand-alone document. In determining that the violation was “willful,” the Court held that the “ordinary meaning of ‘solely’ is alone; singly or entirely; exclusively.
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Wednesday, March 1, 2017

By Law Consumers Are Entitled To One Free Annual Credit Report.


The Federal Fair Credit Reporting Act is law that gives consumers certain rights when companies include your credit report in a decision making process.

Read more . . .


Thursday, February 9, 2017

How the law protects you and your credit


In matters pertaining to credit, do you feel like it's you against the world? Sometimes we all feel that way, but in reality, there are rules and regulations to help protect you against credit discrimination, abuse, or improper handling of your information. Consider these four important laws that help protect your credit rights. 

http://theweek.com/articles/677173/how-law-protects-credit

  

Learn more about how our firm helps consumers to level the playing field:

http://nyconsumerlaw.com/lawyer/Practice-Areas_cp16171.
Read more . . .


Wednesday, February 8, 2017

Ninth Circuit Rules an Employer Willfully Violated the Fair Credit Reporting Act by Including Liability Waiver With the Disclosure Form


In a case of first impression, the Ninth Circuit ruled that an employer willfully violated the Fair Credit Reporting Act (FCRA) by including a liability waiver in a disclosure and authorization form that it provided to a job applicant. As a result, the employer could be held liable for statutory damages ranging from $100 to $1,000, punitive damages, as well as attorneys’ fees and costs, even though the employee did not suffer any actual harm. Syed v. M-I, LLC, 2017 WL 242559 (9th Cir. 2017).
Read more . . .


Wednesday, November 30, 2016

WHAT YOU SHOULD KNOW ABOUT MAINTAINING YOUR CREDIT SCORE


Most people know that maintaining their credit score in good standing is crucial to their financial health. After all, their credit score can have a significant impact on many aspects of their life. Credit scores can affect a person’s ability to buy a home, car, insurance, and may even affect their ability to obtain employment. However, what most people do not know is that credit reporting agencies (CRAs) and credit furnishers often make a multitude of mistakes when recording a credit score and credit report.
Read more . . .


Wednesday, November 2, 2016

Your Right to Know - Your Consumer Credit File Under the Fair Credit Reporting Act


Consumer reporting agencies (also known as credit reporting agencies or CRAs) compile consumer data primarily for use by "users."  Users are entities that access a consumer's information to gain insight into the consumer's past behavior including prior use of credit (payment history and type of credit accessed), criminal history for a job application, or tenant history in the case of housing.  In the credit context, users rely upon these "consumer reports" to decide if the consumer is a high or low risk borrower for a variety of consumer transactions such as auto purchases, home loans, and credit cards.

Critically, however, consumers have a right to access that data as well.  Several circumstances trigger the credit bureau's duty to provide a consumer with a copy of his or her complete credit file.
Read more . . .


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