In June of last year, TransUnion, one of the largest credit reporting companies, prevented multiple people from acquiring car and house loans because they were wrongfully tagged as drug kingpins and terrorists. TransUnion was linking innocent people to terrorists and drug lords because they had similar names and then lying to customers by saying they didn’t have a right to refute their claims. Under the Fair Credit Reporting Act, credit reporters are required to provide accurate information about consumers to lenders and allow them to review that information and dispute it if it’s wrong. TransUnion was ordered to pay 60 million dollars in reparations to the people whose lives were irreparably damaged. This is only one of the very few cases in which credit reporting companies were forced to pay. If you have credit reporting problems that you can’t solve on your own, contact Young’s Law Firm for assistance.
Julian Sweeney; Young’s Law Firm Legal Assistant