ALBANY, N.Y. (Legal Newsline) – A settlement has been reached between the nation’s three credit-reporting agencies and the State of New York, New York Attorney General Eric Schneiderman said on Monday.
In the settlement, Experian Information Solutions, Equifax Information Services and TransUnion have agreed to improve the accuracy of credit reports, increase fairness and efficacy for procedures when dealing with consumer disputes of credit-report errors and protect consumers from undeserved credit problems when they have medical debt. Schneiderman
Schneiderman said credit is part of people’s lives every day, affecting everything from getting a college loan and renting an apartment to buying a car or getting a credit card, and even when applying for a job.
“The nation’s largest reporting agencies have a responsibility to investigate and correct errors on consumers’ credit reports,” Schneiderman said.
“This agreement will reform the entire industry and provide vital protections for millions of consumers across the country. I thank the three agencies for working with us to help consumers.”
