Regulators Slap TransUnion with $23 Million Fine for Illegal Rental Background Checks and Credit Reporting
The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) have taken action against TransUnion, a rental screening subsidiary, for violating the Fair Credit Reporting Act. TransUnion failed to ensure the accuracy of rental background checks used by landlords and withheld the names of third parties providing inaccurate information. The CFPB and FTC are seeking a court order for TransUnion to pay $15 million in penalties and make improvements to its reporting practices. Additionally, the CFPB is ordering TransUnion to pay $8 million for misleading consumers about security freezes and locks on credit reports. TransUnion also failed to protect active-duty military members from pre-screened solicitation lists.
- CFPB and FTC Take Actions Against TransUnion for Illegal Rental Background Check and Credit Reporting Practices Consumer Financial Protection Bureau
- CFPB, FTC fine TransUnion $23M for tenant screening and security freeze failures AOL
- TransUnion settles with the FTC, CFPB for $23 million for impeding tenants' ability to obtain housing CNBC
- US regulators fine TransUnion $23 million over rental eviction reports, credit freezes Reuters
- TransUnion ordered to pay millions for breaking the law WSOC Charlotte
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