Equifax Data Breach

Deceptive Acts and Practices

Friday, July 21, 2017

As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away


 Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing.

The troubled loans, which total at least $5 billion, are at the center of a protracted legal dispute between the student borrowers and a group of creditors who have aggressively pursued them in court after they fell behind on payments.

 Judges have already dismissed dozens of lawsuits against former students, essentially wiping out their debt, because documents proving who owns the loans are missing. A review of court records by The New York Times shows that many other collection cases are deeply flawed, with incomplete ownership records and mass-produced documentation.

Read more . . .


Tuesday, July 11, 2017

Wells Fargo customers who had fake accounts created in their names are a step closer to some payback.


A federal judge granted preliminary approval over the weekend for Wells Fargo's $142 million national class action settlement. The court ruled that the settlement, which covers fake accounts back to 2002, "fair, reasonable and adequate."

 Victims may still have to wait before they get paid. The bank and lawyers for the plaintiffs plan to reach out to customers in the next three months, but the settlement may not be final until early 2018. Still, Wells Fargo CEO Tim Sloan called the court ruling a "major milestone in our efforts to make things right for our customers.
Read more . . .


Wednesday, May 17, 2017

AT&T faces thousands of complaints about overcharging for services


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

A CBS News investigation has uncovered over 4,000 complaints against AT&T and DirecTV related to deals, promotions and overcharging in the past two years.


Read more . . .


Monday, May 8, 2017

Wronged Wells Fargo customers are finally getting a bit of payback


Wells Fargo has reached a $110 million preliminary settlement to compensate all customers who claim the scandal-ridden bank opened fake accounts and other products in their name.

It's the first class action settlement by Wells Fargo since authorities revealed in September that the bank opened up to 2 million fake accounts to meet unrealistic sales targets that have since been eliminated.

Wells Fargo said on Tuesday the payments to customers will be in addition to refunds the bank has already paid out.

The settlement is expected to cover several lawsuits: including one filed in May 2015 in the Northern District of California, a separate one launched last September by customers, as well as 10 others. Wells Fargo's $110 million settlement marks a reversal from just a few months ago when it tried to kill a fake account lawsuit by forcing victims to resolve their claims quietly in closed-door arbitration instead of open court.
Read more . . .


Tuesday, May 2, 2017

CFPB Orders TransUnion and Equifax to Pay for Deceiving Consumers in Marketing Credit Scores and Credit Products


In personal finance, practically everything can turn on one’s credit score. It’s both an indicator of one’s financial past, and the key to accessing necessities—without insane costs—in the future. But on Tuesday, the Consumer Financial Protection Bureau announced that two of the three major credit-reporting agencies responsible for doling out those scores—Equifax and Transunion—have been deceiving and taking advantage of Americans. The Bureau ordered the agencies to pay more than $23 million in fines and restitution.  

In their investigation, the Bureau found that the two agencies had been misrepresenting the scores provided to consumers, telling them that the score reports they received were the same reports that lenders and businesses received, when, in fact, they were not.


Read more . . .


Friday, April 21, 2017

Beware, mortgage seekers: Random, online ‘credit scores’ are not always reliable


A new legal settlement from the Consumer Financial Protection Bureau alleges that Experian, one of the big three credit-reporting bureaus, “deceptively marketed credit scores to consumers by misrepresenting” them as “the same” as what their lender would use in determining whether and on what terms to offer them a loan.

 

 In fact, said the bureau, the scores Experian advertised extensively were its own proprietary “educational” scores that virtually no lenders use to make credit decisions.

 

As part of the settlement, Experian was fined $3 million. The case follows Consumer Financial Protection Bureau settlements in January over similar allegations with the other national credit bureaus — Equifax and TransUnion — in which they were required to make $17.6 million in restitution to consumers and pay $5.
Read more . . .


Wednesday, April 5, 2017

Sub prime auto loans - Auto lenders can steer vulnerable people into crushing debt

Auto Lending: Last Week Tonight with John Oliver


Read more . . .


Monday, April 3, 2017

Data breaches cause an increase in credit card fraud

Experian says that the biggest component of credit card fraud trends is the fact that 2016 was a record year for data breaches. There were 1,093 breaches, a 40% increase from 2015, according to the Identity Theft Resource Center. 

Meanwhile, the Federal Trade Commission recently revealed a jump in consumers who reported that their stolen data was used for credit card fraud, from 16% in 2015 to more than 32% in 2016. 

The record number of data breaches is a signal that future fraudulent activities will take place, warns Experian.

Read more . . .


Friday, March 31, 2017

Wells Fargo is having a hard time getting Americans to sign up for credit cards these days.


Wells Fargo is having a hard time getting Americans to sign up for credit cards these days.

Credit card applications at Wells Fargo plunged by 55% in February, the sharpest decline since the bank's fake account scandal erupted last September.

Another sign of trouble: Wells Fargo (Read more . . .


Thursday, March 30, 2017

Held by Maryland’s Highest Court: Midland Funding


Held by Maryland’s Highest Court:

Midland Funding waived its right to arbitration when it sued Mr. Cain in small claims court.  Because Midland was unlicensed when they sued him, the judgment against him and all other class members is VOID.


Read more . . .


Friday, March 24, 2017

Advocates Applaud CFPB for Enforcement Action against Experian for Deceptive Marketing of Credit Scoring Products


(BOSTON) Today, the Consumer Financial Protection Bureau (CFPB) Read more . . .


Archived Posts

2017
November
October
September
August
July
June
May
April
March
February
January
2016

← Newer12 3 Older →



© 2017 Law Office of Adam G. Singer, PLLC | Disclaimer | Attorney Advertising
60 E. 42nd St., Suite 4600, New York, NY 10165
| Phone: 212.842.2428
254 S. Main St., Suite 516, New City, NY 10956
| Phone: 212.842.2428
445 Hamilton Ave., Suite 1102, White Plains, NY 10601
| Phone: 212.842.2428

About | Practice Areas | FAQ

Law Firm Website Design by
Amicus Creative