Jan 30, 2022 | Blog, Consumer Protection
CFPB Identifies Consumer Reporting Companies The Public Can Hold Accountable
The Consumer Financial Protection Bureau (“CFPB”) released its annual list of consumer reporting companies. 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, individuals 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 (“FCRA”).
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, however, charge people a fee to access this data. The list published by the CFPB 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.
People who have a problem with credit or consumer reporting, such as tenant screening or background checks, can submit a complaint to the CFPB online or by calling (855) 411-CFPB (2372).
The List Of Consumer Reporting Companies
Consumer reporting companies collect information and provide reports to other companies about you. These companies use these reports to inform decisions about providing you with credit, employment, residential rental housing, insurance, and in other decision-making situations.
You have a meaningful role to play to ensure the data about you maintained by consumer reporting companies is accurate and complete.
You know your credit report is important, but the three nationwide consumer reporting companies, Equifax, TransUnion, and Experian, are not the only companies that collect information about you.
Other companies collect information and prepare consumer reports about you, and you have a right to see those reports.
The 2022 List Of Consumer Reporting Companies
This list includes the three nationwide consumer reporting companies as well as other companies that focus on certain market areas and consumer segments. Use this list to help you take advantage of your right to review the information in your consumer reports, and dispute possible inaccuracies with companies as needed. The list includes the three nationwide consumer reporting companies, Equifax, TransUnion, and Experian, and several other reporting companies that focus on creating consumer reports for certain industries.
TO VIEW THE LIST OF CONSUMER REPORTING COMPANIES IN PDF FORMAT, PLEASE CLICK HERE.
Market Areas Included On The List
NATIONWIDE CONSUMER REPORTING COMPANIES- There are three big nationwide providers of consumer reports: Equifax, TransUnion, and Experian. Their reports contain information about your payment history, how much credit you have and use, and other inquiries and information.
EMPLOYMENT SCREENING – Employment screening companies provide verification information such as credit history, employment, salary and education and professional license verification to employers and others.
TENANT SCREENING – Tenant screening companies provide reports to landlords and residential real estate management companies. If you are applying as a tenant for a residential property a tenant screening report with negative information in it, such as past due rent, could result in a rejected lease application or a lease with tough conditions.
CHECK AND BANK SCREENING – Check and bank screening companies collect and report data on checking account applications, openings, and closures as well as check screening services like check verification.
PERSONAL PROPERTY INSURANCE – Personal property insurance reporting companies collect and report information on consumers’ home, auto, and personal property.
MEDICAL – Medical consumer reporting companies share information on your medical data if you authorized the release of your medical records to an insurance company.
LOW-INCOME AND SUBPRIME – Low-income and subprime reporting companies provide consumer information to companies that market and sell products and services specifically to lower-income consumers and credit applicants with impaired credit records.
SUPPLEMENTARY REPORTS – The information that some consumer reporting companies sell is used to supplement other data, such as the credit data the nationwide consumer reporting companies sell about you. This information can include public records and ID verification data to help firms manage credit and fraud risks.
UTILITIES – These companies collect information associated with telecommunications, pay TV, and utility (electric, gas, water) services to help companies in these industries manage customer relations.
RETAIL- These companies collect information related to retail product return and exchange fraud and abuse.
GAMING – These companies share consumer data associated with check cashing settlement services to assist gaming establishments such as casinos and racetracks with risk management.
Who Can See Your Consumer Reports?
Consumer reporting companies must follow legal restrictions, but can generally provide your consumer reports and credit scores to an array of businesses, including:
- Debt buyers and collectors
- Lenders (including those that offer credit cards; home; payday; personal; title; auto – including auto leasing; student loans; security deposit financing and lease guarantees on home rentals; and buy-now-pay-later (“BNPL”) products)
- Insurance companies
- Employers, volunteer organizations, and government agencies to determine eligibility for government assistance
- Landlords and residential real estate management companies
- Banks, credit unions, payment processors, and retail stores that accept personal checks
- Companies that market and sell products and services specifically to lower-income consumers and subprime credit applicants, such as short-term lending and rent-to-own businesses
- Communications and utility companies
- Retail stores for product return fraud and abuse screening, as well as retail stores that offer financing, such as appliance and rent-to-own businesses
- Gaming casinos that extend credit to consumers and/or accept personal checks
When Should You Check A Consumer Report?
With the exception of employment screening, users of your reporting data generally DO NOT warn you in advance when they are about to take an adverse action against you based in whole or in part on your consumer report. Thus, the accuracy and completeness of your consumer reporting data is extremely important.
Check your reports regularly
It is important to review your credit reports from the three nationwide consumer reporting companies, Equifax, TransUnion, and Experian, every twelve months to ensure they are accurate and complete. This is especially important if you intend to purchase a home or car with credit, or otherwise intend to apply for credit in the future.
Check your reports before making financial decisions
If you are applying for a job, an insurance policy, or a lease, you should fact-check your background screening reports to ensure there are no errors.
Check your reports if you think you may be a victim of identity theft
Data breaches are an unfortunate reality. It is important to be aware of your options to take greater control of your consumer reporting data.
Fact-check your reports and consider blocking third-party access to your consumer reporting data through a security “freeze.”
Resources To Take Action
How to request a report
Under the federal Fair Credit Reporting Act (FCRA), ALL consumer reporting companies are required to provide you a copy of the information in your report if you request it.
You are also entitled to a free credit report every 12 months from each of the three nationwide consumer reporting companies, Equifax, TransUnion, and Experian. You can request a copy through AnnualCreditReport.com .
As a result of a 2019 settlement, ALL U.S. consumers may also request up to six free copies of their Equifax credit report during any twelve-month period through December 2026. These free copies will be provided to you in addition to any free reports to which you are entitled under federal law.
You have the right to dispute the information in your reports
If you find information in your consumer reports that you believe is inaccurate or incomplete, you have the legal right to dispute the report’s content with the consumer reporting company and the company that shared the information with the consumer reporting company, such as your lender.
Under the FCRA, companies must conduct a reasonable investigation of your dispute, free of charge.
For information about disputing errors, please click Learn How To Dispute An Error.
If you have complaints about your consumer reports
The CFPB handles consumer reporting complaints about report accuracy and completeness errors, credit repair services, and other consumer reporting topics. If you are dissatisfied with a company’s investigation of an earlier dispute, if you believe your consumer report was used improperly, or if you have problems getting access to your own consumer reports you may consider submitting a complaint.
Source: Consumerfinance.gov
Have Your Rights Under The Fair Credit Reporting Act Been Violated?
If you believe your rights under the FCRA have been violated, please contact Kehoe Law Firm, P.C. by completing the form above on the right or by sending an e-mail to [email protected] for a free, no-obligation evaluation of potential legal claims.
Jan 27, 2022 | Blog, Consumer Protection
Surge In Consumer Reports About Money Lost Via Scams Initiated Through Social Media
On January 27, 2022, the FTC reported that consumers in 2021 reported losing about $770 million to fraud initiated on social media—about one fourth of all reported fraud losses for the year and an 18-fold increase from 2017, according to the Federal Trade Commission’s latest Consumer Protection Data Spotlight.
Of those who reported losing money to fraud in 2021, more than 95,000 indicated that they were first contacted on social media, which was more than twice the 2020 number.
Investment scams topped the list of total reported dollar losses, followed by romance scams. The largest number of reports came from people who lost money to online shopping scams. Most of the reports about online shopping scams involved someone who ordered a product they saw marketed on social media that never arrived. Consumers who listed the social media platform where the undelivered products were marketed most often named Facebook or Instagram.
For additional information, please click the FTC’s “Social media a gold mine for scammers in 2021.”
Additional guidance about spotting, avoiding, and reporting scams, and how to recover money if you have paid a scammer, can be viewed at ftc.gov/scams.
Source: FTC.gov
Have you been financially harmed by scams, fraud, deception or other illegal activity?
If so, please contact Kehoe Law Firm, P.C. for a free, no-obligation evaluation of potential legal claims by completing the form above on the right or via [email protected].
Jan 26, 2022 | Consumer Protection
Philips Respironics Recalls Certain Trilogy EVO Ventilators For Potential Health Risks From PE-PUR Foam
Recalled Products & Model Numbers
- Manufacturing Dates: April 15, 2021 to May 24, 2021
- Distribution Dates: April 15, 2021 to May 24, 2021
- Devices Recalled In The U.S.: 215 Trilogy Evo ventilators; 51 Trilogy Evo repair kits
- Date Initiated By Firm: December 21, 2021
NOTE: Trilogy 100 and 200 ventilators were previously recalled in June 2021 due to the same foam risk. Certain other Trilogy models are NOT AFFECTED by this issue and are NOT SUBJECT TO THE RECALL: Trilogy Evo O2, Trilogy EV300, and Trilogy Evo Universal.
Reason For The Recall
Philips Respironics has recalled certain Trilogy Evo ventilators with specific serial numbers due to potential health risks. A Philips supplier incorrectly used polyester-based polyurethane (PE-PUR) sound abatement foam, a non-conforming material, in the muffler assembly of the affected Trilogy Evo ventilators. The issue was identified during lab testing of the Trilogy Evo ventilator. The Trilogy Evo ventilators with non-conforming foam were distributed to customers in the United States and Korea. There have been no reported injuries or death to date.
The polyester-based polyurethane (PE-PUR) sound abatement foam, which is used to reduce sound and vibration in these affected devices, may break down and potentially enter the device’s air pathway. If this occurs, black debris from the foam or certain chemicals released into the device’s air pathway may be inhaled or swallowed by the person using the device.
For more information, please see the Potential Health Risks from Sound Abatement Foam section of the Update: Certain Philips Respironics Ventilators, BiPAP, and CPAP Machines Recalled Due to Potential Health Risks: FDA Safety Communication.
Who May Be Affected
- People using these devices and their caregivers
- Health care providers and facilities
- Durable Medical Equipment (“DME”) suppliers
What To Do
Philips Respironics sent an Urgent Medical Device Recall notification to Trilogy Evo ventilator customers on December 21, 2021, and the company sent an updated version to clarify information on cleaning and filters on January 13, 2022.
The notification requested customers take the following actions:
- Create awareness of this safety information by forwarding to your organization’s personnel.
- Identify all of the impacted devices purchased by your organization.
- Do not stop or change patient therapy unless the patient has consulted their health care provider or unless a replacement Trilogy Evo ventilator has been provided.
- Instruct patients and/or caregivers to closely monitor the bacteria filter for foam debris. Using an inline bacterial filter may help to filter out particles of foam. Additionally, after placement of an inline filter, instruct patients and/or caregivers to be aware of potential changes in breathing circuit resistance and monitor as ventilator performance may change due to increase in resistance of air flow through the device after filter placement. Bacterial filters will not help to reduce exposure to certain chemicals that may be released from the PE-PUR foam.
- Inspect and clean the patient circuit and accessories per the instructions included with the notification.
- A replacement Trilogy Evo ventilator will be provided by Philips. Once the patient has been transitioned, return the affected Trilogy Evo ventilator to Philips. Your Philips Representative will provide a return authorization and any support needed to facilitate this return. The packing instructions are in Appendix A of the notification.
For the repair kit for Trilogy Evo muffler assembly, the December 21, 2021 notification letter requested customers take the following actions:
- Segregate inventory of Repair Kit – Trilogy Evo Muffler Assembly Part Number 1135257, and quarantine any lot between 210414 and 210524.
- Do not use any quarantined material and contact Philips for return instructions. You will be shipped replacements.
- Determine if any Trilogy Evo devices have been repaired using Trilogy Evo Muffler Assembly Part Number 1135357 starting 14 April 2021 or later
- If the lot number used in repair is between 210414 and 210524. Contact Philips for next steps. Philips will replace the device these parts were installed into.
- If the lot number used in a repair is unknown, assume it is affected and contact Philips for next steps. Philips will replace the device these parts were installed into.
- If lot number is known and is not an affected lot, no further action is required.
For more information, please see the Recommendations section of the Update: Certain Philips Respironics Ventilators, BiPAP, and CPAP Machines Recalled Due to Potential Health Risks: FDA Safety Communication.
Contact Information, Full List Of Affected Devices & Additional Resources
Customers in the U.S. with questions about this recall should contact Philips Respironics at (800) 722-9377 or email [email protected].
A complete list of affected devices is available in the Medical Device Recalls database.
- Medical Device Recall Database Entries:
Update: Certain Philips Respironics Ventilators, BiPAP, and CPAP Machines Recalled Due to Potential Health Risks: FDA Safety Communication
Source: U.S. Food & Drug Administration (Philips Respironics Recalls Certain Trilogy EVO Ventilators For Potential Health Risks From PE-PUR Foam).
If you have been the victim of a defective or misleading consumer product and/or product recall, please complete the form on the right or e-mail [email protected] for a free, no-obligation evaluation of potential legal claims.
Jan 26, 2022 | Consumer Protection
CFPB Launches Initiative To Save Americans Billions In Junk Fees
The Consumer Financial Protection Bureau (“CFPB”) has launched an initiative to save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies. The CFPB’s request is a chance for the public to share input that will help shape the agency’s rulemaking and guidance agenda, as well as its enforcement priorities in the coming months and years.
According to the CFPB, companies across the U.S. economy are increasingly charging inflated and back-end fees to households and families. This new “fee economy” distorts the U.S. free market system by concealing the true price of products from the competitive process. For example, hotels and concert venues advertise rates, only to add “resort fees” and “service fees” after the fact. And fees purportedly charged to cover individual expenses, like paperwork processing, can often greatly exceed the actual cost of that service.
The CFPB’s research has found several areas where back-end fees might obscure the true cost of a product and undermine a competitive market:
- In 2019, the major credit card companies charged over $14 billion each year in punitive late fees.
- In 2019, bank revenue from overdraft and non-sufficient funds (“NSF”) fees surpassed $15 billion .
The CFPB will strive to strengthen competition in consumer finance by using its authorities to reduce these kinds of junk fees. To craft rules, issue industry guidance, and focus supervision and enforcement resources to achieve this goal, the CFPB is seeking input from the public.
The CFPB is interested in hearing about people’s experiences with fees associated with their bank, credit union, prepaid or credit card account, mortgage, loan, or payment transfers, including:
- Fees for things people believed were covered by the baseline price of a product or service
- Unexpected fees for a product or service
- Fees that seemed too high for the purported service
- Fees where it was unclear why they were charged
The CFPB is also interested in hearing from small business owners, non-profit organizations, legal aid attorneys, academics and researchers, state and local government officials, and financial institutions, including small banks and credit unions.
Source: Consumerfinance.gov
If you believe you have been harmed due to fees you believed were covered by the baseline price of a product or service; unexpected fees for a product or service; fees that seemed too high for the purported service; or fees where it was unclear why they were charged, please contact Kehoe Law Firm, P.C. by completing the form above on the right or via [email protected] for a free, no-obligation evaluation of potential legal claims.
Jan 24, 2022 | Consumer Protection
Conditional Validity Of Product Warranties For Gillette, Venus, Braun & Oral-B Products At Issue In Class Action Lawsuit
On January 21, 2022, a class action complaint was filed against The Procter & Gamble Company and The Gillette Company LLC (“P&G,” “Gillette,” or “Defendants”) for the manufacture, marketing, and sale of consumer products sold under brand names that include Gillette, Venus, Braun, and Oral-B.
According to the class action complaint, the lawsuit was brought against the Defendants for the marketing, manufacture and/or sale of consumer products, the warranties of which include statements that condition the continued validity of the warranty on the use of only an authorized repair service and/or authorized replacement parts (i.e., a “tying arrangement”).
Tying arrangements that condition a consumer product’s warranty on the use of a specific repair service in this manner violate state and federal law, according to the complaint. The Defendants, allegedly, exacerbate these violations by stating on the outside of the product packaging that the consumer products include a one-year limited warranty, but the unlawful repair restriction is not revealed to the consumer until after the point of sale. Moreover, the Plaintiffs and other class members would not have purchased a particular product, or would have paid much less, if the unlawful repair restriction was known.
The complaint alleges that the Defendants condition warranty coverage on unlawful repair restrictions, and in numerous instances, the Defendants, via their warranty statements for various appliances, condition warranty coverage on the use of the Defendants’ repair services to perform maintenance and repair work, rather than allowing consumers to repair the product themselves or take it to a third-party repair service.
By conditioning their warranty in this manner, the Defendants, according to the complaint, have violated the tying prohibition in the Magnuson-Moss Warranty Act, which prohibits companies from conditioning their warranties on the consumer’s use of any article or service (other than an article or service provided without charge under the terms of the warranty) identified by brand, trade, or corporate name.
If you purchased Gillette, Venus, Braun, and Oral-B products in the United States with a warranty provision that prohibits self-repair and/or the use of unauthorized parts, you are encouraged to contact Kehoe Law Firm, P.C. by completing the form above on the right or via [email protected] for a free evaluation of potential legal claims.
Jan 14, 2022 | Blog, Consumer Protection
The Consumer Financial Protection Bureau (“CFPB”) has released a bulletin reminding debt collectors and credit bureaus of their legal obligations in light of the “No Surprises Act,” which protects consumers from certain unexpected medical bills.
Companies that try to collect on medical bills that are prohibited by the No Surprises Act, or who furnish information to credit bureaus about such invalid debts, may face significant legal liability under the Fair Debt Collection Practices Act (“FDCPA”) and the Fair Credit Reporting Act (“FCRA”).
The CFPB’s bulletin advises credit bureaus that the accuracy and dispute obligations imposed by the FCRA apply with respect to debts stemming from charges that exceed the amount permitted by the No Surprises Act.
The CFPB will investigate claims and take action against companies that attempt to collect or report or furnish consumer information about debts stemming from charges that exceed the amounts permitted under the No Surprises Act.
The bulletin released on January 13, 2022 by the CFPB includes the following reminders to debt collectors, information furnishers, and credit bureaus:
Consumer financial protection law prohibits debt collectors from misrepresenting the character, amount, or legal status of any debt. This prohibition includes misrepresenting that a consumer must pay a debt stemming from a charge that exceeds the amount permitted by the No Surprises Act. In addition, debt collectors are also prohibited from using unfair or unconscionable means to collect or attempt to collect any debt, including the collection of any amount unless such amount is expressly authorized by the agreement creating the debt or permitted by law. Courts have emphasized that collecting an amount that exceeds what is owed would violate the prohibition on unfair or unconscionable debt collection practices.
Many debt collectors furnish information about unpaid medical debts to credit bureaus. Furnishers must have reasonable written policies and procedures regarding the accuracy and integrity of consumer information provided to credit bureaus. Credit bureaus preparing a consumer report must follow reasonable procedures to assure the maximum possible accuracy of information contained in the consumer report. Both credit bureaus and furnishers must conduct reasonable and timely investigations of consumer disputes to verify the accuracy of consumer information.
For furnishers and credit bureaus, the accuracy and dispute obligations imposed by federal consumer financial protection law apply with respect to debts stemming from charges that exceed the amount permitted by the No Surprises Act.
Source: Consumer Financial Protection Bureau
Consumers who believe they are victims of illegal debt collection or credit reporting practices are encouraged to contact Kehoe Law Firm, P.C. by completing the form above on the right or via [email protected] for a free, no-obligation evaluation of potential legal claims.
