The complaint filed by these agencies paints a grim picture, accusing TransUnion of providing landlords and other entities with background check reports tainted by inaccuracies and outdated eviction records. The allegations suggest that the company failed to take the necessary accuracy precautions when compiling this vital information. Moreover, TransUnion often omitted disclosing its sources, a practice required by law.
TransUnion to Pay $23M : Credit Freeze Fiasco
In a separate yet equally gripping twist, TransUnion and its subsidiaries are set to face the music over their alleged failures to promptly apply or remove credit report freezes for tens of thousands of consumers spanning multiple years. The CFPB, in this regard, will collect a substantial $5 million fine from the embattled company, alongside an additional $3 million earmarked for consumer redress.
TransUnion’s Icy Financial Blow
TransUnion has not conceded to any of the allegations made by the regulatory agencies in reaching these settlements. The company has maintained its position of neither admitting nor denying culpability.
