Credit Report Shenanigans

[searcher]

CFPB sues Experian over "sham investigations" into consumer complaints​

Experian does not properly investigate consumer complaints of errors in credit reports, threatening their access to credit, employment and housing, the Consumer Financial Protection Bureau said Tuesday.

The agency is suing the consumer reporting conglomerate for violating the Fair Credit Reporting Act that requires Experian and other companies take steps to ensure the information they compile is accurate and to investigate consumer complaints.

"When consumers disputed errors on their credit reports, Experian conducted sham investigations rather than properly reviewing the disputes as required by federal law," CFPB Director Rohit Chopra said in a statement. "Credit reporting errors can have serious consequences for a family's finances, and it is critical that credit reporting giants follow the law."

More:

https://www.msn.com/en-us/money/oth...S&cvid=0c183cc2f18a464682479beac31c7ede&ei=71

 

[Goldhedge]

Compiling credit information is a place of honor. Miscompiling can ruin a person's life.

 

[Voodoo]

They have Zero incentives to actually be accurate.

 

[pmbug]

^^ or safeguard their data apparently.