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Violation Tracker Individual Record

Company: Experian
Current Parent Company: Experian
Penalty: $3,000,000
Year: 2017
Date: March 23, 2017
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: The Consumer Financial Protection Bureau took action against Experian and its subsidiaries for deceiving consumers about the use of credit scores it sold to consumers. The CFPB said that Experian claimed the credit scores it marketed and provided to consumers were used by lenders to make credit decisions. In fact, lenders did not use Experian's scores to make those decisions. The CFPB ordered Experian to truthfully represent how its credit scores are used. Experian was required to pay a civil penalty of $3 million.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: Ireland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: miscellaneous services
Specific Industry of Current Parent: credit rating services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.