Legislation & Regulatory Issues

National Consumer Assistance Plan Is Extended as Experian, Equifax and TransUnion Settle with State Attorneys General

Posted on May 20 2015 by

Today, Experian and the nationwide credit reporting agencies announced another important step in our work to improve the credit lives of consumers and create a healthier financial ecosystem. The settlement between 31 state attorneys general and Experian, Equifax and TransUnion concludes months of productive discussions and our industry is proud of the results.

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Top 3 CFPB Priorities for 2015

Posted on Mar 06 2015 by

CFPB

We’re just a few months into a new year and already there are clear signs how the Consumer Financial Protection Bureau (CFPB) plans to further advance its regulatory authority over bank and non-bank entities across the credit ecosystem.

Here is a look at the top three priorities for the CFPB in this space:

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Congress Should Take Action to Improve Financial Education In Our Country

Posted on Oct 06 2014 by

How can I improve my credit score?

That’s a question thousands of consumers ask Experian every day. This question is asked even more frequently now that lenders are sending an estimated 120 million credit-score disclosures each year to consumers when they are denied credit or are offered terms that are less favorable than those offered to others. These score disclosures provide consumers with basic information about the score used in a transaction and direct them to the national credit bureaus if they have any questions.

However, when consumers ask Experian how they can improve their credit standing, it’s difficult to respond in an easy and consumer-friendly way. The difficulty arises because, although we want to help, the Credit Repair Organizations Act (CROA) puts substantial roadblocks between credit bureaus and consumers.

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Experian launches platform to manage cross-channel fraud risk

Posted on Jul 29 2014 by

 Precise ID® with FraudNet provides a single view of a consumer’s identity across devices Experian®, the leading global information services company, has announced the launch of a cross-channel fraud platform to better authenticate consumers, validate their mobile devices and identify mobile fraud. The platform combines Experian’s Precise ID®, an industry-leading risk-based authentication service, with FraudNet, a global […]

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How fraud is transforming the mobile banking industry

Posted on Jul 23 2014 by

Cybersecurity is increasingly becoming a challenge across many industries. I recently spoke with Mike Gross, the director of risk strategy and professional services at 41st Parameter, about how the banking industry is changing to adapt to new mobile technology and the new forms of fraud that exist as a result. At 41st Parameter, Mike is responsible […]

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Why Mississippi Lawsuit Against Experian has no Merit

Posted on Jun 21 2014 by

Earlier this week, it was reported that the Mississippi Attorney General filed a lawsuit against Experian. While not breaking news, it is important to provide context to the allegations.

As the world’s largest credit bureau – and in managing more than 220 million files in the US alone – it has become commonplace to question credit reporting agencies. We are used to scrutiny of our practices – but sometimes the claims are just plain wrong.

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The Facts on Court Ventures and Experian

Posted on Mar 30 2014 by


It’s no surprise that cybercrime and data breaches are hot topics for media and bloggers these days.

Unfortunately, because of all the attention paid to these topics, we’ve seen some inaccurate information about Experian circulating in news outlets and other Web sites.

I want to take a moment to clarify the facts and events, including Experian’s involvement in the case involving Court Ventures, a company that collects and aggregates information from public records; US Info Search, a company that provides location and other data for people and companies; and a criminal named Hieu Minh Ngo.

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FTC’s Proposal for a Central Website for “Data Brokers” Won’t Work…Here’s Why

Posted on Mar 05 2014 by

The FTC has advocated for the creation of a central website where marketing information service providers (FTC calls them “data brokers”) would be listed, with links to these companies, their privacy policies and also choice options, giving consumers the capability to review/amend the data that companies maintain.

The FTC claims that such a website would bring needed transparency to the practices of companies that are not well-known to consumers. However, the proposal raises many more questions than it answers.

The FTC first discussed this proposal in its 2012 report, entitled “Protecting Consumer Privacy in an Era of Rapid Change: Recommendations for Businesses and Policymakers,” and FTC Commissioners and staff have repeatedly cited the need for a centralized  website in testimony before Congress and speeches to stakeholder groups. The proposal was also referenced in December 2013 reports issued by the Government Accountability Office (GAO) and Senate Commerce Committee.

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