These Are Credit Reporting Agencies You Can Hold Accountable
The Consumer Financial Protection Bureau (CFPB) has just released this list of consumer reporting companies that can be held accountable.
The list identifies dozens of specialty reporting companies that collect and sell access to people’s data, including individuals’ finances, employment, check writing histories, or rental history records, often without their knowledge. Using the list, people can exercise their right to see what information these firms have, dispute inaccuracies, and file lawsuits if the firms are violating the Fair Credit Reporting Act.
The included credit reporting companies in the list are below. Contact information can be found here.
Nationwide Consumer Reporting Companies
ADP Screening & Selection Services
DISA Global Solutions
General Information Services
The Work Number
Universal Background Screening
Contemporary Information Corp
First Advantage Resident Solutions
TransUnion Rental Screening Solutions
Check and Bank Screening
Certegy Check Services
Early Warning Services
Global Payments Check Services
Personal Property Insurance
Insurance Information Exchange
Low-Income and Subprime
The companies listed in this section sell data primarily to help entities manage credit and fraud risk.
LexisNexis Risk Solutions
National Consumer Telecom & Utilities Exchange
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The Retail Equation
“Many companies assemble and sell detailed dossiers about us that can determine whether we can get a loan, job, or an apartment,” said CFPB Director Rohit Chopra. “Americans have limited legal rights they can use to keep tabs on these surveillance companies and hold them accountable when they violate the law.”
In the United States, the majority of landlords and employers rely on tenant screeners and employment background checks in the course of deciding whether to accept a rental application or offer someone a job. As families recover from the financial impact of the COVID-19 pandemic, seeking new jobs or places to live, errors in these databases can severely harm their financial lives.
While the three nationwide consumer reporting companies — Equifax, TransUnion, and Experian — allow people to check their reports for free once a week through December 2022, many of the specialty companies charge people a fee to access this data. The list published today allows people to see which companies provide this information for free, as well as search for those that provide specialized reporting by specific markets, including employment, tenant, insurance, and medical.
People are frequently in the best position to know if their information is accurate. If an individual finds information in their consumer reports that appears to be inaccurate, they have the right to file a dispute, and the consumer reporting company is required to conduct a reasonable investigation.
The CFPB has previously highlighted problems that consumers have reported about the three nationwide reporting companies, Experian, Equifax, and TransUnion, not adequately responding to consumer complaints about errors. The CFPB also issued an advisory opinion in November 2021 affirming that all consumer reporting companies, including tenant and employment screening companies, have an obligation to use reasonable procedures to assure maximum possible accuracy.