No. of Recommendations: 4
The fact that the government reported erroneous information does not relieve TransUnion of their duties under the FCRA. That appears to be the basis of the woman's claims against TransUnion. Claims she appears to have won - even if the court reduced her award substantially.

I think you misread the article. The government reported one name and TransUnion associated it with a different account. There was no accusation of government wrongdoing or misinformation. The problem is that Transunion misapplied the data then reused to correct it.

The so-called protections as they apply to credit reporting agencies are a joke. They accept all data reported on your record, without any effort to ensure the data actually applies to you, then make you jump through hoops to dispute it, without ever being allowed to talk to an actual person. Then when you do dispute it, all they do is forward the item back to the source institution who automatically says their data is correct without any serious investigation. At this point, the CRA considers the case closed.

Fixing incorrect data with a CRA is like pushing a boulder uphill. Sure it can be done, but it requires a lot of work and persistence. What is needed is regulations not to punish bad behavior but to prevent it in the first place.

Who thinks the so-called civilian penalties for failing to correct false information are insignificant to the CRAs and unsuccessful at encouraging responsible behavior...
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.