TransUnion, Equifax, Experian may have violated credit reporting rules

[gdale6]

• Rep James Clyburn, chair of the House Select Subcommittee on the Coronavirus Crisis, asked the CFPB to investigate Experian, Equifax and TransUnion for failing to address consumer disputes during the pandemic.
• The select subcommittee found evidence that the agencies discarded disputes without investigation.
• Clyburn said the credit raters potentially violate the Fair Credit Reporting Act.

https://www.msn.com/en-us/money/companies/transunion-equifax-experian-may-have-violated-credit-repor...

[cashorcharge]

Interesting to read their criteria for "tossing out" requests based on commonalities...or in other words...those submitted by what I would assume is a credit repair agency versus someone legitimately submitted an error...but no mention of online requests and how those are handled.  This will be interesting to watch...Thanks @gdale6 

[SweetCreditObsession]

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@cashorcharge wrote:

Interesting to read their criteria for "tossing out" requests based on commonalities...or in other words...those submitted by what I would assume is a credit repair agency versus someone legitimately submitted an error...but no mention of online requests and how those are handled.  This will be interesting to watch...Thanks @gdale6 

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I was also curious about why they didn't mention online disputes. This article didn't do a whole lot to raise my confidence in the dispute process at all. Let's hope that there's more information to come on this along with insight on how to get a submitted dispute read by an actual person.

[Itgem679]

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Wouldn't be surprised if this is why my CO fell off early. I disputed that 2 or 3 times and the credit bureaus responded so fast (within 1-3 weeks) that I thought they had information that I didn't.

@gdale6 wrote:

• Rep James Clyburn, chair of the House Select Subcommittee on the Coronavirus Crisis, asked the CFPB to investigate Experian, Equifax and TransUnion for failing to address consumer disputes during the pandemic.
• The select subcommittee found evidence that the agencies discarded disputes without investigation.
• Clyburn said the credit raters potentially violate the Fair Credit Reporting Act.

https://www.msn.com/en-us/money/companies/transunion-equifax-experian-may-have-violated-credit-repor...

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