In a high-stakes move that affects millions of consumers, the Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Experian Information Solutions, Inc., one of the three major credit reporting agencies, for alleged violations of the Fair Credit Reporting Act (FCRA). Consumer Financial Protection Bureau+2Regulatory Report+2
The lawsuit, filed January 7, 2025, alleges that Experian conducted “sham investigations” of consumer disputes, failed to properly reinvestigate inaccurate credit- report information, and even re-inserted previously deleted tradelines into consumer credit files without adequate matching safeguards. NCLC+2Consumer Financial Protection Bureau+2 According to the complaint, between January 2018 and October 2021 Experian failed to forward more than 2 million consumer disputes to furnishers within five business days, as required by the FCRA. Regulatory Report