cancel
Showing results for 
Search instead for 
Did you mean: 

TU employee charged w/changing credit reports

Dirge
Contributor

TU employee charged w/changing credit reports

I haven't found a story about this, but the criminal complaint was unsealed today https://storage.courtlistener.com/recap/gov.uscourts.paed.590678/gov.uscourts.paed.590678.1.0.pdf

 

The FBI says that the TU employee took money from "a credit repair business" to delete balances and inquiries and change accounts from derogatory to non-derogatory for about 80 customers. One person, whose score went up 154 points, then got and defaulted on a $170k auto loan. TD Bank started investigating after a higher than usual number of luxury auto loans originated from an Atlanta car dealership. 

Message 1 of 11
10 REPLIES 10
805orbust
Valued Contributor

Re: TU employee charged w/changing credit reports

Wow... aint that rich. 



Message 2 of 11
ChargedUp
Senior Contributor

Re: TU employee charged w/changing credit reports

Well ain't that a dilly! 

 

I'd be happy with just aging my accounts a bit grin.gif

Message 3 of 11
Mr_Mojo_Risin
Senior Contributor

Re: TU employee charged w/changing credit reports

Always someone on the take somewhere...

Thanks for the post!

NFCU More Rewards 28K CL
NFCU Cash Rewards 16K CL
Citi Custom Cash 7.5K CL
AODFCU Visa Sig 5K CL
Discover IT 2.5K CL
Capital One QS 3600 CL
Message 4 of 11
calyx
Super Contributor

Re: TU employee charged w/changing credit reports

Welp, I guess the usual statement of "don't go with a credit repair, there's nothing they can do that you can't" should be amended with "legally"



Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 5 of 11
Rebuild2019
Valued Contributor

Re: TU employee charged w/changing credit reports

Thanks for the post.

CARDS: Discover It | QuickSilver One | Kohl’s | BBT Spectrum Cash Rewards | BBT Bright | CITI Custom Cash | Chase Freedom Flex | Chase Amazon Prime Visa | VACU Cash Rewards Mastercard | PenFed Gold Visa | NFCU CashRewards | NFCU More Rewards | NFCU Platinum Visa | AMEX BCE | Verizon Visa | Wells Fargo Active Cash | Amazon Prime | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 6 of 11
NoMoreE46
Community Leader
Valued Contributor

Re: TU employee charged w/changing credit reports

Great read thanks.

Message 7 of 11
stonedog23
Frequent Contributor

Re: TU employee charged w/changing credit reports

I'm not even going to front, I wish I knew this TU employee and I wish he or she had done me a solid too.  Somethings on your reports are not accurate and companies fight like H*ll to keep them on there.  And after a time the credit report agencies will refuse to investigate a duplicate complaint.  

NFCU GoRewards Sig ($35,000), NFCU Cash Rewards ($25,000), PenFed Power Cash ($20,000), PNC Cash Rewards ($18,400), PNC Cashbuilder ($18,700) , Comenity MC ($12,000), FNBO Evergreen Visa ($9700), Walmart MC ($8000), Discover It Cash ($7500), Wells Fargo Active Cash Sig($7000), Amex BCE($6000), Amex ED($6600), PNC Points ($3800), Amex Cash Magnet($2000), Fifth Third Truly Simple ($4000), BB&T Spectrum Cash Rewards($4500), BB&T Bright Card($4500), CapOne Quicksilver(Bucketed @$1500), US Bank Cash+ ($5,000), US Bank Cash+ ($1,000), Overstock($15,350), Dell($3000), WF mortgage 195K Fico 8: EQ 754, TU 740, EX 739, AAoA-92 months, AoOA-26 years
Message 8 of 11
mark3038
Established Contributor

Re: TU employee charged w/changing credit reports

It took 5 years from the date of the crime to bring charges????

It appears to be an easy case to make but 5 years to investigate it?

Am I missing something here?

Thanks

Mark

 

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 9 of 11
pizzadude
Credit Mentor

Re: TU employee charged w/changing credit reports

Very interesting stuff for sure.  After wading through the inditment & affidavit, here are a few of my thoughts:

 

-- This inditment is only against the person who worked at TU and made the unauthorized changes to CRs.  I'd assumed the two co-conspirators who recruited and paid them to make the changes will eventually also be indited but who knows.

-- Score impact of inquiries is minmal, disputing / removing them is a waste of time.  Loan holder A.N. had 13 inquiries removed and received 0 pts score increase.  It's unknown if these were all of their inquiries, my opinion is that it likely was, why only remove 13 ?

-- Fraud continues to be a huge expense for lenders.   From this one incident, charge offs exceeded $550K:   $325K for TD Bank, $19K for Barclays, $220K for NFCU, $82K for Regions, $25K for PFCU, $21K for USAA.

-- Fraudulent cash deposits into a bank account constitute interstate wire fraud.  I guess this makes sense, but I never really looked at it from that perspective. 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.