CFPB v. Experian Information Solutions, Inc.

Experian Information Solutions, Inc. allegedly violated FCRA by failing to properly conduct reinvestigations of disputed information in consumer credit files; failing to delete inaccurate, incomplete, or unverified information in consumer credit files; failing to provide adequate written notice to consumers of the results of its reinvestigations; failing to prevent the improper reinsertion of previously deleted information from consumer credit files; and failing to follow reasonable procedures to assure maximum possible accuracy of the credit information Experian reports on consumers. In addition, Experian committed unfair acts or practices in violation of the Consumer Financial Protection Act of 2010 by (1) relying excessively and unreasonably on furnishers to resolve disputes, routinely doing nothing more than sending the dispute to a furnisher and implementing the furnisher’s response, despite having evidence of that furnisher’s unreliability; and (2) improperly reinserting tradelines into consumer credit reports due to its practice of failing to adequately match newly reported tradelines to tradelines that were previously deleted as a result of a dispute if the subsequent furnishing was from a new furnisher, according to CFPB.

Summary generated from official Consumer Financial Protection Bureau press release