Blog Posts Tagged with Credit Reporting

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Risky business

No one is sliding across the living room floor in shades lip synching to Bob Seger, but violating the FTC’s Risk-Based Pricing Rule is risky business nonetheless. That’s the message of the FTC’s $1.9 million settlement with telecom company Time Warner Cable, Inc., the first case brought under the Risk-Based Pricing Rule.

And now for something completely different

Take out your mobile device where you input all that personal information and make note of three upcoming FTC events where the topic of conversation will be, well, the collection and use of all that personal information.  But this time we're switching things up a bit.  The FTC's Spring Privacy Series will consist of three two-hour seminars focused on emerging issues that consumers, industry groups, consumer advocates, and academics are starting to talk about.

"Check" out the $3.5 million penalty in the latest FCRA case

Here’s a newsflash:  There’s a troubling amount of inaccurate information in people’s credit reports that can result in the denial of a job, a place to live, and even necessities like groceries and medicine.  That’s why the Fair Credit Reporting Act requires consumer reporting agencies (CRAs) to “follow reasonable procedures to assure maximum possible accuracy.”  The FTC’s settlement with Certegy Check Services — which includes the second-largest civil penalty ever in an FCRA case — offers insights into what the law requires.

"I read the news today, oh boy"

There's "Life of Pi" and "Life of Brian," Boswell’s “Life of Samuel Johnson,” the sitcom “Life of Riley,” and the Beatles’ ground-breaking “A Day in the Life.”   We view Life of a Debt: Data Integrity in Debt Collection, a roundtable hosted by the FTC and the Consumer Financial Protection Bureau (CFPB), as pretty ground-breaking, too.  And the topic — the flow of consumer data through the debt collection process — should attract the interest of your clients in the financial field.

FTC and CFPB host roundtable on data integrity in debt collection

When the topic turns to debt collection, some people assume the only thing that changes hands is money.  But there’s another important consideration:  the life cycle of consumer information as it flows through the debt collection process.  That's the subject of Life of a Debt: Data Integrity in Debt Collection, a June 6, 2013, roundtable co-hosted by the FTC and the Consumer Financial Protection Bureau (CFPB).

Background screening reports and the FCRA: Just saying you're not a consumer reporting agency isn't enough

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 not a CRA!” won’t change that.  That’s one important takeaway tip from the FTC’s settlement with Filiquarian Publishing, the agency’s first FCRA case involving mobile apps.

Down in the dumps(ter)

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 Illinois, loan applications, credit reports, and other confidential paperwork found their way into dumpsters near the defendants’ locations.  The settlement applies just to the entities specified in the order.  But is it a good time to take a look at h

Trash Talking

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 sensitive information about your customers.  Just ask PLS Financial Services, PLS Group, and the Payday Loan Store of Illinois.

If you deal in data

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 legal compliance into your day-to-day operations.

New FTC publication for mobile app developers

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 your own with that gotta-have-it app, the same truth-in-advertising standards and basic privacy principles apply.

In praise of Toby Flenderson

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 between your company and the onslaught of data thieves and scammers.  The BCP Business Center has a special page to make their job a little easier.

Speaking of Spokeo: Part 2 — The company’s allegedly bogus endorsements

The lawsuit against data broker Spokeo is the FTC’s first Fair Credit Reporting Act case addressing the collection of online info — including data from social networking sites — when used in the context of employment screening.  But that’s not the only way the Spokeo settlement touches on social media.  The FTC also charged that Spokeo violated Section 5 by having employees post glowing recommendations of the company’s services on news and technology websites without di

Speaking of Spokeo: Part 1

Like chicken and waffles or ham and pineapple on pizza, some combos don’t sound like they’d go together, but make sense once you find out more.  Put the FTC’s settlement with Spokeo on that list.  According to the FTC, data broker Spokeo violated the Fair Credit Reporting Act and used deceptive endorsements in violation of Section 5.  A closer look at the pleadings explains how those two hot topics found their way into one FTC complaint.

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