Tag: Credit Reporting

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If you’re in the financial field, chances are you’re familiar with the FACT Act (sometimes called FACTA by friends and family).  It’s the Fair and Accurate Credit Transactions Act, which amended portions of the Fair Credit Reporting Act.  Research just released by the FTC puts the...
You know that phrase “If it quacks like a duck. . . “?  It’s applicable in the Fair Credit Reporting Act context, too.  If a company meets the legal definition of a “consumer reporting agency,” it’s a consumer reporting agency.  Including a disclaimer that says, in effect, “But we’re...
An enterprise that compiled and sold criminal record reports has agreed to settle Federal Trade Commission charges that it operated as a consumer reporting agency without taking consumer protection measures required by the Fair Credit Reporting Act (FCRA).  The FTC’s settlement order, which...
The Federal Trade Commission issued orders requiring nine data brokerage companies to provide the agency with information about how they collect and use data about consumers.  The agency will use the information to study privacy practices in the data broker industry.
This study examines accuracy in consumer credit reports using a nationally representative sample of consumers with credit histories. Participants in the study examined their credit reports from the three national credit reporting agencies and identified potentially material errors....
Every business generates paper destined for the circular file.  But if documents contain sensitive information, don’t toss them out in a way that could invite unauthorized access.  According to the FTC’s lawsuit against PLS Financial Services, PLS Group, and The Payday Loan Store of...
Some things you’d expect to find in a trash can:  last night’s potato peelings, the casserole that looked so promising in the cookbook photo, and Oscar the Grouch.  But if you run a business, the one thing you don’t want in the dumpster behind your office is paperwork containing...
If information is your stock in trade, FTC settlements with consumer reporting giant Equifax Information Services and San Diego-based Direct Lending Source merit your attention.  The cases are a timely reminder to businesses that when buying and selling data, it’s important to build...
The Federal Trade Commission told a House subcommittee that strong enforcement of the Fair Credit Reporting Act (FCRA) remains a top priority for the FTC, and that the agency is committed to educating consumers and businesses about consumer reports, credit scores, and their rights and obligations...
Are you in the mobile app business?  If so, you’re probably considering some important questions, like what to tell users about your app, what information to collect from users, and what to do with any information you collect.  Whether you work for a tech giant or are striking out on...
An employment background screening company that provides consumer reports to companies nationwide will pay $2.6 million to settle Federal Trade Commission charges that it violated the Fair Credit Reporting Act by failing to use reasonable procedures to assure the maximum possible accuracy of...
HR could use better PR.   Say "human resources" and some people think of Dunder Mifflin’s joy-deficient Toby Flenderson from "The Office."  But you know better and appreciate the job your HR team does to keep your organization up and running.  They're also a critical line of defense...
The terms of the FTC’s Spokeo settlement apply just to Spokeo, but that case and other recent law enforcement actions offer insights for a much broader audience.

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