CFPB fines Experian $3M

Consumer Financial Protection Bureau
THE CONSUMER Financial Protection Bureau last week issued a proposal to clarify rules related to the 2015 updates to the Home Mortgage Disclosure Act that would help clarify information related to collecting and reporting mortgage lending.
WASHINGTON – The Consumer Financial Protection Bureau last month fined Experian, one of the nation’s largest credit-reporting agencies, $3 million based on claims the company and its subsidiaries deceived customers. The federal regulator also ordered Experian truthfully represent how its credit scores are used moving forward. “Experian deceived customers over how the credit scores it…

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