Info regarding Experian Settlement

By
Mortgage and Lending with National Credit Fixers - Matt Listro

At CreditCon (https://credit-con.com/) we will discuss yesterday's Settlement between the CFPB and Experian.

You can read the full 26 page settlement here: http://m7jql10o3kr.com/Forum/Three Bureaus/experian March 23 2017 cfpb settlement.pdf

Here is my 4 paragraph summary of the 26 pages:

One of the key issues was that Experian was advertising services/products BEFORE the consumer received their file disclosure on annualcreditreport.com. The law states that the consumer must receive the file disclosure first before you can serve them banner advertisements.

Another key issue was that Experian was issuing their PLUS score which is an educational score, but their advertising would imply that it was the same score that Lenders use, when it was not. The score disclosure was not always conspicuous in their ads and in many cases was far away from the score claims made in the advertisements.

As part of the settlement, Experian has agreed to more clearly disclose and describe the PLUS score as an educational score. Experian also has agreed to stop serving banner ads on annualcreditreport.com BEFORE consumers receive their free file disclosure.

Lastly, Experian has agreed to pay a civil penalty of $3 million to the CFPB.

Come to CreditCon and discuss this and other important industry developments.

Posted by

Matt

Toll Free: 888-NCFIXER (623-4937)
Toll Free Fax: 888-FAX-4020 (329-4020)
Local: 860-282-6181
281 Hartford Turnpike Ste 500

Vernon CT 06066

credit repair company

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Location:
Connecticut
Groups:
CT Waterfront
Club Chaos
Diary of a Realtor
Credit Repair Organizations
Cosmic Cow Pie...The Rome Way

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
863,796
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Thank you for sharing Experian's settlement. No one, no matter how big they is above the law.

Mar 24, 2017 11:20 AM #1
Rainmaker
2,828,176
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Matt Listro This is very good report about Experian settlement.

Mar 24, 2017 04:27 PM #2
Rainmaker
382,670
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Thanks guys!

Apr 26, 2017 12:03 PM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
382,670

Matt Listro

Your Credit Repair Expert
Ask me a question
*
*
*
*
Spam prevention

Additional Information