Tag Archives: OFAC

Jury Awards Record Damages of $60 Million after Finding Credit Reporting Agency Violated FCRA


Written By ESR News Blog Editor Thomas Ahearn

On June 20, 2017, a federal jury in California awarded a record $60 million in statutory and punitive damages after finding that major credit reporting agency TransUnion allegedly violated the Fair Credit Reporting Act (FCRA) when performing credit checks by confusing consumers with individuals found in the United States Treasury Department’s Office of Foreign Assets Control (OFAC) database. Continue reading

Credit Report Case Demonstrates Challenges in Reporting OFAC Terrorist Information in a Background Screening Report

A case involving a consumer credit report used in an automobile purchase demonstrates the potential dangers of terrorist database searches commonly used by background firms. This appears to be the first case in the nation dealing with use of terrorist databases by credit bureaus under the federal Fair Credit Reporting Act (FCRA), and provides guidance for the use of such information by Consumer Reporting Agencies (CRAs), which includes both credit bureaus and background screening firms. Continue reading