FTC and CFPB Settlement to Require Trans Union to Pay $15 Million over Charges It Failed to Ensure Accuracy of Tenant Screening Reports

Summary:

The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) have obtained a settlement with Trans Union LLC and its subsidiary, TransUnion Rental Screening Solutions, Inc. (TURSS), for violating the Fair Credit Reporting Act (FCRA). The companies failed to ensure the accuracy of tenant screening reports, which included inaccurate and incomplete eviction records, harming consumers' ability to obtain housing. TURSS obtained eviction records from third-party provider LexisNexis Risk and Information Analytics Group, Inc. but failed to take steps to ensure the accuracy of the data. The settlement requires TURSS and Trans Union LLC to pay a total of $15 million, which will be used to compensate consumers and pay a civil penalty. The companies must also take steps to address the allegations of the complaint, including ensuring the accuracy of information in background screening reports and disclosing the sources of information.