Tag: Credit Reporting

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Filtering by content type: Press Release

The Federal Trade Commission is seeking comment on proposed changes that would bring several rules implementing parts of the Fair Credit Reporting Act (FCRA) in line with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
The Department of Justice on behalf of the Federal Trade Commission sued a California-based purveyor of background reports, alleging that the company has deceived consumers with “teaser background reports” that often falsely claimed to include information about arrest, criminal, and sex offender...
Kohl’s Department Stores, Inc. has agreed to pay a civil penalty of $220,000 to settle Federal Trade Commission allegations that the Wisconsin-based retailer violated the Fair Credit Reporting Act (FCRA) by refusing to provide complete records of transactions to consumers whose personal information...
The Federal Trade Commission has submitted a report to Congress updating lawmakers on the agency’s efforts to educate consumers about their rights to dispute and correct errors in their credit reports.
The Federal Trade Commission and the Consumer Financial Protection Bureau (CFPB) have extended the deadline to submit comments on issues affecting the accuracy of consumer reports until January 31, 2020.
WHAT:The Federal Trade Commission and the Consumer Financial Protection Bureau (CFPB) will host a public workshop to discuss issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports.WHEN:Tuesday, December 10, 9 a.m. - 4:45 p.m.

Filtering by content type: Blog Post

As adage-writers go, whoever penned, “Sticks and stones will break my bones, but words will never hurt me,” should have looked for another line of work. And, the writer should have hoped that prospective employers wouldn’t spot a promotion for MyLife.com, saying they could see the...
An FTC complaint against Kohl’s Department Stores alleges the retailer violated the Fair Credit Reporting Act by refusing to provide victims of identity theft with complete records of questionable transactions – a right the FCRA guarantees to victimized consumers. The $220,000...
Headlines tout rapid improvements in artificial intelligence technology. The use of AI technology – machines and algorithms – to make predictions, recommendations, or decisions has enormous potential to improve welfare and productivity. But it also presents risks, such as the...
To review everything the FTC did in 2019 dealing with consumer privacy and data security – Enforcement, Advocacy, Rules, Workshops, Consumer Education, Business Guidance, and International Engagement – it could take days to compile all that information. The FTC has an easier way to...
California-based mortgage broker Mortgage Solutions FCS also does business under the name Mount Diablo Lending. And according to the FTC, the company gave consumers a devil of a time if they posted negative reviews on Yelp. Is your business pondering how to address unfavorable...
They say hindsight is 20/20, but what about foresight? We’re not ones to prognosticate, but a look at notable FTC cases and initiatives from the past year suggests some topics likely to be top of mind in months to come. Here is a non-exhaustive list of issues in our 2019 rearview...
In conjunction with the recent Accuracy in Consumer Reporting workshop, the FTC and CFPB have asked for public comments. The agencies are looking for feedback about issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports...
“Accuracy” is the linchpin of the Fair Credit Reporting Act and it’s the topic of an FTC-CFPB workshop today. Industry representatives, consumer advocates, law enforcers, and others will discuss accuracy considerations both in traditional credit reporting and in employer and tenant...

Filtering by content type: Case

The Department of Justice on behalf of the Federal Trade Commission sued MyLife.com, Inc. and its CEO Jeffrey Tinsley over allegations they deceived consumers with “teaser background reports” that often falsely claimed to include information about arrest, criminal, and sex offender...
Kohl’s Department Stores, Inc. agreed to pay a civil penalty of $220,000 to settle Federal Trade Commission allegations that the retailer violated the Fair Credit Reporting Act by refusing to provide complete records of transactions to consumers whose personal information was used by...
A Colorado-based credit repair company and its owner have agreed to settle Federal Trade Commission charges they misled consumers with promises to “drastically and immediately” improve credit scores and increase access to lower rates on mortgages.

Filtering by content type: Rule Summary

The Military Credit Monitoring Rule requires the nationwide consumer reporting agencies (CRAs) to provide free electronic credit monitoring services for active duty military consumers. The rule implements legislation included in the 2018 Economic Growth, Regulatory Relief, and...

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