TransUnion settles with CFPB, FTC over tenant screening accuracy
By 
Kyle Brasseur2023-10-12T19:34:00
Credit reporting agency TransUnion agreed to pay $23 million total across settlements with the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) for alleged tenant screening and security freeze deficiencies.
As part of a settlement with both agencies, TransUnion will pay $11 million to consumers and a $4 million fine for failing to ensure the accuracy of tenant screening reports, the CFPB and FTC announced Thursday. The agreement is subject to court approval.
The company reached a separate settlement with the CFPB requiring it to repay consumers $3 million and pay a $5 million penalty for failing to timely process security freeze and lock requests.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefToyota finance arm to pay $60M in CFPB settlement
Toyota Motor Credit Corp. agreed to pay $60 million as part of a settlement with the Consumer Financial Protection Bureau addressing allegations of illegal lending and credit reporting misconduct.
-
PremiumCFPB to beef up enforcement staff to police ‘surveillance economy’
Eric Halperin, enforcement director at the Consumer Financial Protection Bureau, said his office will be adding 75 new full-time employees as part of an expansion of its efforts to protect consumers from misuse of their personal data.
-
News BriefCFPB eyes open banking with financial data rights rule proposal
The Consumer Financial Protection Bureau is moving forward its plan to give consumers more control over their personal financial data as part of a new rule proposal.
More from Regulatory Enforcement
-
ArticleFrench investigators target anticompetitive practices in largest accounting firms
Major accountancy firms in France are under investigation for anti-competitive practices. The French competition watchdog embarked on a series of “unannounced inspections” and removed documents relating to audit and reporting on Jan. 13.
-
ArticleEU investigation into Grok may expose problems with DSA rather than compliance failings
The European Commission has launched a formal investigation against Elon Musk’s X under the Digital Services Act over fears that its AI tool Grok may be producing and disseminating illegal material.
-
ArticleFormer ADM execs inflated operating profits, SEC alleges
Three former executives at Archer-Daniels-Midland intentionally misled investors by inflating the performance of the company’s Nutrition unit, the U.S. Securities and Exchange Commission has alleged.