Misrepresentation: Why Did the CFPB Just Hit Experian with a $3M Penalty?


Misrepresentation: Why Did the CFPB Just Hit Experian with a $3M Penalty?

Apr, 7th 2017

The federal government's consumer finance watchdog on Thursday announced a $3 million fine against Experian, one of the country's three largest credit bureaus, for misrepresenting the value of certain credit scores to consumers.

If this announcement is giving you a sense of deja vu, you're not alone: On January 3, the Consumer Financial Protection Bureau announced a similar action against Equifax and TransUnion, the other two major credit bureaus, for very similar allegedly misleading behavior.

Like in the January complaint against TransUnion and Equifax, the CFPB alleges Experian made some of their offerings seem better than they were. In many cases, the CFPB says, Experian made it seem that people were buying the actual credit scores that get used by lenders — everyone from credit card companies...

Read More

Join Us. We are waiting for you!

Sign Up Today!

We welcome you to our community where you can gather and share information on debts and issues which may have your life unsettled. Together we thrive!

Logo mobile 4b2fda9e088d7249be95ede0cc3adea2de299a346ba55b450264e0c976b239c5

Join our community Today! IT'S FREE

Our Interactive Knowledge Base Has All The Infomation You Need To Settle Your Debt & Settle Your Life™


Join, Resolve & Share!