San Francisco Jury Awards $60 Million Against Trans Union

On June 20, 2017, the law firms of Francis & Mailman, P.C., Philadelphia, and Anderson, Ogilvie & Brewer, LLC, San Francisco, obtained the highest jury verdict in the history of the Fair Credit Reporting Act. In a class action brought against the Trans Union credit reporting agency based upon its practice of falsely associating consumers with the federal government’s OFAC terrorist watchlist, a San Francisco jury awarded the class $60,055,800 in statutory and punitive damages.

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Starting July 1, the Big Three Credit Bureaus Will Delete Many Tax Liens & Civil Judgments

Starting July 1,2017, Experian, Equifax and Trans Union will delete tax liens and civil judgments from consumers' credit reports unless they include the person's name, address and either their SSN or date of birth. About half of tax liens and virtually all judgments do not have a SSN or date of birth. The problem with the tax liens and judgments lacking this identifying information was that the information lacking personal identifying information often belonged to some other person. The bureaus are making these changes having received pressure from regulators and state attorneys general to improve the accuracy of their reports....

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House Bill is a Financial Assault on Americans

Today, the U.S. House of Representatives passed that would gut essential financial reforms enacted under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, and other  longstanding financial protections that go back decades. The National Consumer Law Center said today that this Wrong CHOICE Act makes it easy for lawbreaking financial companies to deny people their day in court, for predatory lenders to put people into a debt trap,  and for abusive financial enterprises of all types to go back to their reckless ways without a consumer watchdog looking out for ordinary people. “The bill would gut essential reforms adopted...

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What Happens when Government Records of Persons with the Same Names or SSN’s are Mixed

The courts and the state departments of motor vehicles sometimes mix the files of two persons with the same or very similar names. When one person applies for credit or job or tries to renew their driver's license, they may be denied credit or a driver's license based  on adverse records that belong to another person. It can be very difficult for such persons to clear their records. For example, the Guardian has an interesting first person story on a woman in New York named Lisa Davis, whose court and DMV records were mixed with other persons named Lisa Davis over...

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Experian Deceived Consumers, Fined $3 Million

Today, the Consumer Financial Protection Bureau fined Experian $3 million for deceiving consumers in marketing it own credit scores. Experian is one of the credit reporting agencies that created its own credit scoring, sometimes known as fako scores. They are fake because lenders do not use them in deciding whether to give consumers credit. Creditors generally rely on FICO scores, not the agencies' own scores. The CFPB said that from 2012 through 2014 Experian falsely claimed the credit scores it sold to consumers were used by lenders. The CFPB ordered Experian to truthfully represent how its credit scores are used...

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