Tag Archives: Consumer protection

Three Companies Agree to Settle FTC Charges Over False Claims of EU-U.S. Privacy Shield Framework Participation

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Written By ESR News Blog Editor Thomas Ahearn

Three companies have agreed to settle Federal Trade Commission (FTC) charges that they misled consumers about their participation in the EU-U.S. Privacy Shield Framework designed by the U.S. Department of Commerce and European Commission to allow companies to transfer consumer data from the European Union (EU) to the United States (U.S.) in compliance with EU law, according to a FTC press release. Continue reading

Employment Screening Resources (ESR) Completes Annual EU-U.S. Privacy Shield Re-Certification

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Written By Employment Screening Resources© (ESR)

Employment Screening Resources® (ESR) – a leading global background check firm headquartered in the San Francisco Bay area – has received notification from the U.S. Department of Commerce’s International Trade Administration (ITA) that ESR’s annual submission for its self-certification of adherence to the EU-U.S. Privacy Shield Framework has been finalized and is effective as of September 22, 2017. Continue reading

CFPB Orders Bank to Pay $4.6 Million Penalty for Violating FCRA Requirements for Checking Account Screening Reports

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Written By ESR News Blog Editor Thomas Ahearn

On August 2, 2017, the Consumer Financial Protection Bureau (CFPB) ordered JPMorgan Chase Bank, N.A. to pay a $4.6 million penalty for failing to comply with obligations outlined in the federal Fair Credit Reporting Act (FCRA) related to the accuracy of information about consumer checking account behavior provided for checking account screening reports, according to a news release on the CFPB website. Continue reading

Consumer Protection Safeguards Crucial for NAPBS Accredited Background Screening Firms

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Written By ESR News Blog Editor Thomas Ahearn

Having consumer protection safeguards in place to ward off unauthorized users and unwanted intrusions is crucial for background screening firms accredited by the National Association of Professional Background Screeners (NAPBS®). These policies and procedures protect the information of individuals during background checks and guard against data breaches and identity theft. This blog is the first in a six part series about the NAPBS Background Screening Agency Accreditation Program (BSAAP). Continue reading

Judge Grants CFPB Petition Enforcing Demand for Information from Public Records Company

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Written By ESR News Blog Editor Thomas Ahearn

A federal judge in Texas has ordered a company located in the state that compiles public records to turn over information requested in a Civil Investigative Demand (CID) issued by the Consumer Financial Protection Bureau (CFPB) as part of a nonpublic investigation to determine whether consumer reporting agencies (CRAs) are violating the federal Fair Credit Reporting Act (FCRA). Continue reading

Three Major Credit Reporting Agencies to Implement Enhanced Public Record Data Standards on July 1

 credit-score

Written By ESR News Blog Editor Thomas Ahearn

Three major national credit reporting agencies in the United States – Equifax, Experian, and TransUnion – will implement enhanced public record data standards for consumer credit reports beginning on July 1, 2017, according to a statement from the Consumer Data Industry Association (CDIA). Continue reading

CFPB Fines Credit Reporting Agency $3 Million for Deceiving Consumers about Credit Scores

 credit-score

Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has ordered one of the nation’s three largest credit reporting agencies, Experian, to pay a civil penalty of $3 million for deceiving consumers about the use of credit scores it sold to them, according to a report on the CFPB website. Continue reading

CFPB Releases Report Detailing Problems in Credit Reporting Industry

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Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has released a special report that details the problems in the credit reporting industry that the CFPB has uncovered and corrected through oversight work and outlines actions the CFPB has taken to address these problems such as fixing data accuracy at credit reporting companies, repairing the broken dispute process, and cleaning up information being reported. Continue reading

CFPB Monthly Complaint Report for February Highlights Complaints about Credit Reports

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Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has released the Monthly Complaint Report for February 2017 that highlights consumer complaints about credit reports and shows how consumers continue to report struggling to resolve errors on their credit reports. The report is at http://files.consumerfinance.gov/f/documents/201702_cfpb_Monthly-Complaint-Report.pdf. Continue reading

CFPB Orders TransUnion and Equifax to Pay for Deceiving Consumers about Credit Scores

 CFPB logo spotlight

Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has ordered TransUnion and Equifax, Inc. to pay a total of more than $17.6 million in restitution to consumers, along with fines totaling $5.5 million to the CFPB, for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers, according to a news story on the CFPB website. Continue reading