Consumerist

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Is Experian Letting Anyone Access Your Credit Freeze PIN?

By Ashlee Kieler 9.21.17 — Updated: 9.22.17

UPDATE: Experian tells Consumerist that its authentication processes go farther than previously identified steps. The company regularly reviews its security practices and adjusts as needed.

Placing a credit freeze on your accounts following a hack or issue with identity theft is only effective if the credit reporting agency you’re working with doesn’t give ne’er-do-wells the ability to unfreeze the accounts by providing the same information that any good ID thief already knows about you. This is a lesson some victims of Equifax’s recent data breach are learning after freezing their accounts with fellow credit reporting agency Experian. [More]

where's the security

In Wake Of Equifax Hack, New York Wants Assurances From Experian, TransUnion

By Ashlee Kieler 9.19.17

The Equifax data breach compromised personal information for some 143 million Americans, but there are still two other major credit bureaus — Experian and TransUnion — whose digital vaults are filled with the same sensitive info. New York’s top prosecutor is now asking these companies to explain how they won’t be the next source of a massive consumer data leak. [More]

running into issues

The TransUnion credit freeze page prior to Sept. 11.

Did TransUnion Increase Cost Of Credit Monitoring In Wake Of Equifax Breach?

By Ashlee Kieler 9.14.17 — Updated: 9.15.17

With more than 143 million consumers’ personal information now circulating on the dark web thanks to the massive Equifax data breach, there’s no doubt many of these victims are turning to the other two major credit bureaus — TransUnion and Experian — for credit freezes and monitoring services. But is one of these agencies cashing in on the Equifax hack by raising the price for its services? [More]

Paying Up

TransUnion Must Pay $60M For Mistakenly Tagging People As Possible Terrorists

By Ashlee Kieler 6.21.17

A federal jury in California has ordered credit reporting agency TransUnion to pay $60 million to individuals it wrongly tagged as terrorists or drug traffickers. [More]

Paying Up

Experian Fined $3M, Accused Of Misleading Consumers About Usefulness Of Credit Scores

By Ashlee Kieler 3.23.17 — Updated: 5.10.17

Two months after federal regulators fined two of the nation’s largest credit reporting agencies — Equifax and TransUnion — $23 million for misleading consumers about the cost and usefulness of credit monitoring services, the Consumer Financial Protection Bureau has announced a $3 million settlement with Experian over allegations that the credit agency misled consumers about the usefulness of the credit scores available for purchase. [More]

civil judgments

Credit Reports Soon Won’t Include Some Tax Lien, Civil Judgment Data

By Ashlee Kieler 3.13.17 — Updated: 3.15.17

Millions of consumers could soon see their FICO credit scores increase as the three credit reporting agencies — Equifax, Experian, and TransUnion — take another step to overhaul their systems by excluding certain negative information related to tax liens and civil judgments from credit reports. [More]

what's the point?

My Identity Was Stolen, Then TransUnion Let The Fraudster Unfreeze My Accounts

By Ashlee Kieler 2.8.17

One of the smart things to do when your identity has been stolen is to contact the three major credit reporting agencies — TransUnion, Equifax, and Experian — to discuss placing a temporary fraud alert and credit freeze on your accounts. But as one Consumerist reader found out, all it takes to remove those restrictions is the same information that any good ID thief already knows about you. [More]

transunion

Equifax, TransUnion To Pay $23M For Misleading Consumers About Credit Monitoring

By Ashlee Kieler 1.3.17

The nation’s three largest credit reporting agencies — TransUnion, Equifax, and Experian — not only collect consumers’ financial information to assist lenders in gauging whether or not someone is qualified for a loan, fit for a job, or can afford a place to live, they also provide people with credit-related products and resources that are meant to help them keep tabs on or improve their credit. But, according to federal regulators, Equifax and TransUnion haven’t been upfront about the costs and usefulness of these products, and now they’re on the hook for a total $23.1 million in fines and refunds. [More]

credit scene investigation

How Much Investigating Should A Credit Bureau Do When Someone Disputes A Debt?

By Chris Morran 4.18.16

The nation’s three credit bureaus — Equifax, Experian, and TransUnion — are also three of the four most-complained-about companies to the Consumer Financial Protection Bureau, with 77% of those complaints involving incorrect information on consumers’ credit reports. But when a consumer attempts to dispute a debt on their report, what legal obligation do these agencies have to actually investigate? [More]

acceptable margin of error

John Oliver Trolls Error-Prone Credit Bureaus With Horrible, Sound-Alike Companies

By Chris Morran 4.11.16

The three major credit reporting agencies — Equifax, Experian, and TransUnion — receive more complaints from consumers than most banks, primarily because these reports frequently contain errors and they make it incredibly difficult to resolve disputes. The credit industry seems to think its mistakes are within acceptable standards, but will they feel the same way when their brand names are facing similar odds for a disastrous mistake? [More]

if you don't have anything nice to say

Credit Bureaus, Bank Of America, Wells Fargo Top List Of Most Complained-About Financial Companies

By Chris Morran 8.25.15

The Consumer Financial Protection Bureau has released its latest report on the various complaints the agency has received about banks, lenders, debt collectors, and other financial services. Amid a sudden increase in the number of complaints involving credit report errors, the country’s largest credit bureaus now dominate the top of the CFPB’s list of most complained-about companies. [More]

That's A Lot Of Money

How Much Is A Company That Knows All About Your Financial Behavior Worth? Turns Out A Lot.

By Ashlee Kieler 6.25.15

It’s no secret that consumer financial data is valuable: it determines if you get better rates on loans and allows lenders to predict the likelihood you’ll pay back debts. While we can’t necessarily put a price tag on that data (yet), we now know that one of the largest companies to collect that information is worth a bundle – 4 billion bundles, in fact. [More]

Need To Know Now

Senator Pushes For System To Notify Consumers ‘The Moment Access To Their Credit Is Requested’

By Ashlee Kieler 6.22.15

It seems like every day, another retailer, service provider, or government agency falls victim to a data breach, and if a hacker uses that stolen info to open up a new line of credit in your name, you may not know until long after the fact. One lawmaker is hoping to curb identity theft by giving consumers a heads-up whenever their credit reports are accessed. [More]

Gettin' The Info Right

Credit Bureaus Must Pay $6M, Fix Errors More Quickly Under 31-State Agreement

By Ashlee Kieler 5.21.15

The three largest companies to collect and disseminate credit information for millions of Americans – Experian, Equifax and TransUnion – must significantly change the way they treat disputed information on credit reports as part of a massive multi-state settlement announced this week. [More]

Got Credit?

(www.flickr.com/photos/33581199@N04/4231899887)

Nearly 26 Million American Adults Have No Credit History

By Ashlee Kieler 5.5.15

While a recent survey found that nearly 35% of consumers have never pulled their credit report, a new report from the Consumer Financial Protection Bureau points out that some of those consumer might not have anything on their reports anyway. [More]

Have you checked your credit report?

Nearly 35% Of Consumers Have Never Checked Their Credit Reports

By Ashlee Kieler 5.4.15

While consumers are often urged to take advantage of the free once-a-year opportunity to request a credit report and make sure they aren’t riddled with errors, a new survey suggests many Americans simply aren’t heeding the suggestion. [More]

Credit Scores For All

FICO Expands Program To Give Millions Of Consumers Free Access To Credit Scores & Reports

By Ashlee Kieler 4.21.15

Millions of financially struggling consumers who work with qualified nonprofit counseling agencies now have access to free credit scores and credit reports with the expansion of the FICO Score Open Access program. [More]

Changing the Credit Reporting Game

Credit Bureaus Agree To Revamp Practices For Handling Errors, Unpaid Medical Bills

By Ashlee Kieler 3.9.15

Experian, Equifax and TransUnion – the three largest companies to collect and disseminate credit information for millions of Americans – must undergo an overhaul of credit reporting practices as part of an agreement with the New York Attorney General’s Office. [More]

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