Credit Reporting

[indago]

From The Associated Press 3 January 2017:
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The Consumer Financial Protection Bureau announced Tuesday that TransUnion and Equifax must pay fines totaling $5.5 million and return about $17.6 million to wronged consumers. The agency also said the two companies lured consumers into payments of $16 or more per month for credit scores and credit-related products.

TransUnion, based in Chicago, and Atlanta-based Equifax Inc. are two of the three major credit-reporting agencies in the U.S. The credit scores they generate are used to determine whether consumers can qualify for a mortgage, a car loan, a cellphone plan and a range of other loans.
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[Fenton Lum]

Ah american style capitalism.

 

[MindWars]

From The Associated Press 3 January 2017:
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The Consumer Financial Protection Bureau announced Tuesday that TransUnion and Equifax must pay fines totaling $5.5 million and return about $17.6 million to wronged consumers. The agency also said the two companies lured consumers into payments of $16 or more per month for credit scores and credit-related products.

TransUnion, based in Chicago, and Atlanta-based Equifax Inc. are two of the three major credit-reporting agencies in the U.S. The credit scores they generate are used to determine whether consumers can qualify for a mortgage, a car loan, a cellphone plan and a range of other loans.
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Isn't it wonderful people haven't caught onto the entire scam of this bs. People actually pay to have these prick companies spread your information about you for one, and rather than help you with good scores they just make sure they report all the dings you have " ALERTING" all companies. The whole system is a fkn scam.