October 12, 2023 CFPB takes action against Trans Union
On October 12, 2023, the Bureau and the Federal Trade Commission filed a joint complaint and stipulated order against TransUnion Rental Screening Solutions, Inc., a Delaware corporation with its principal place of business in Greenwood Village, Colorado, and its parent company, Trans Union LLC, a Delaware company with its principal place of business in Chicago, Illinois (collectively, TransUnion Rental Screening). TransUnion Rental Screening is a consumer reporting agency that provides tenant and employment background screening reports to thousands of client rental property owners, property management companies, employers, and other background screening companies throughout the United States to assist users in selecting tenants and employees. The complaint alleged that TransUnion Rental Screening violated the Fair Credit Reporting Act by failing in numerous instances to (1) follow reasonable procedures to assure maximum possible accuracy of eviction records in its tenant screening reports; and (2) when it obtained criminal and eviction records from third-party vendors, identify the third-party vendor as a source of the records in its disclosures to consumers. As the complaint alleged, inaccurate and misleading information in tenant screening reports can significantly interfere with consumers’ ability to find housing and cause them harm, including prolonged housing searches, additional application fees, time and money spent correcting errors, higher rental payments, temporary housing costs, and denial of housing. The stipulated order, which the court entered on October 18, 2023, requires that TransUnion Rental Screening take specific actions to ensure maximum possible accuracy of its tenant screening reports and provide complete disclosures to consumers who request them. It also requires TransUnion Rental Screening to pay $11 million in consumer redress and a $4 million penalty to the Bureau.
Fall 2023--The Consumer Financial Protection Bureau Issued Supervisory Highlights
January 13, 2022--The Consumer Finanical Protection Bureau Issued Guidance Regarding Medical Debt Collection and Consumer Reporting Requirements in Connection with the No Surprises Act
The Bureau of Consumer Financial Protection is issuing this compliance bulletin and policy guidance to remind debt collectors of their obligation to comply with the Fair Debt Collection Practices Act’s prohibition on false, deceptive, or misleading representations and unfair or unconscionable practices, and to remind consumer reporting agencies and information furnishers to comply with the Fair Credit Reporting Act’s accuracy and dispute resolution requirements, including when collecting, furnishing information about, and reporting medical debts covered by the No Surprises Act. https://www.federalregister.gov/documents/2022/01/20/2022-01012/bulletin-2022-01-medical-debt-collection-and-consumer-reporting-requirements-in-connection-with-the
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