TransUnion Set to Pay Victims $60 Million
TransUnion and the Fair Credit Reporting Act
TransUnion, a credit reporting agency, has been ordered to pay its victims $60 million, a decision and amount rendered by a California jury recently. A class action, filed in 2012, alleged that TransUnion used an unfair screening process, tagging individuals as massive drug kingpins or terrorists because they had similar names to individuals on the U.S.Treasury Department’s Office of Assets Control (OFAC). After the screening, people were denied things such as loans because the credit reporting agency mistakenly flagged them as criminals or terrorists.
Plaintiffs argued that this type of screening is unjust, not just because they were mislabeled and denied what they were applying for, but they were not afforded the decency of seeing their credit report by TransUnion and disputing and/or correcting it. This practice violates the Fair Credit Reporting Act (FCRA), the Plaintiffs argued.
Ultimately, Plaintiffs won. A California federal jury ultimately found that TransUnion did not: 1. Ensure that the information they were receiving from OFAC and selling to the companies requesting the report was accurate; 2. Give OFAC findings to the individuals screened, and; 3. Properly tell individuals the rights that they have under FCRA. This decision by a California jury is certainly a step in the right direction for consumers around the world.
If you or a loved one been the victim of discrimination regarding the Fair Credit Reporting Act (FCRA), contact the Evans Law Firm class action attorneys at (415) 441-8669, or by email at email@example.com. Our attorneys have experience with complex financial contracts and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.