2 Credit-Reporting Agencies Must Pay $23 Million for Deceptive Practices
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The Consumer Financial Protection Bureau said two credit-reporting agencies, TransUnion and Equifax, had lured consumers into enrolling in credit services advertised as free or costing only $1, but which could cost more than $200 a year. CreditKatherine Taylor for The New York Times
The nation’s consumer watchdog agency on Tuesday ordered the credit-reporting agencies TransUnion and Equifax to pay more than $23.2 million in fines and restitution for deceiving customers about the usefulness of credit scores and the cost of obtaining them.
The watchdog agency, the Consumer Financial Protection Bureau, said the payments would resolve charges that TransUnion and Equifax had lured consumers into enrolling in credit services advertised as free or costing only $1, but which could cost more than $200 a year…
2 Credit-Reporting Agencies Must Pay $23 Million for Deceptive Practices
