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Credit Plus Inaccurate Information on Credit Reports FCRA Class Action

The Fair Credit Reporting Act (FCRA), says the complaint for this class action, requires that consumer reporting agencies “follow reasonable procedures to assure maximum possible accuracy of the information” in their reports. However, the complaint claims, Credit Plus, a reseller reporting agency, does not do this. It alleges that Credit Plus gets public records information from another company but does not verify that that information is correct.

The Nationwide Class for this action is all natural persons for whom Credit Plus reported an unpaid judgment or tax lien, between June 22, 2016 and June 22, 2021, when the judgment or lien had been satisfied, vacated, or expunged more than thirty days before the date of Credit Plus’s report, between June 22, 2016 and the date of judgment in this case. A Minnesota Subclass has also been defined.

Credit Plus is a “reseller,” that is, a consumer reporting agency that gets information for its reports from another reporting agency or a combination of reporting agencies. Credit Plus gets information on liens and judgments from a product of LexisNexis Risk Solutions, Inc., the RiskView Liens and Judgments Report.

But the complaint alleges that LexisNexis “is not a reliable source of tax lien and civil judgment information. LexisNexis uses a largely automated and systematic procedure to gather and report derogatory public records” and that its information is not accurate.

“A long history of litigation shows that LexisNexis does not have adequate procedures to gather updated information about when the tax lien or judgment is released, satisfied, vacated or otherwise removed[,]” the complaint charges. It claims that “the records themselves appear to indicate they were not recently updated. Additionally, they are accompanied by a warning that they are potentially inaccurate and not to be relied on.”

The plaintiff in this case, Christopher Peterson, applied for a mortgage loan. The loan officer obtained a credit report on him from Credit Plus. The complaint alleges that the report “falsely showed unsatisfied civil judgments…” that Peterson had paid off months before.

The complaint alleges that Credit Plus’s inaccurate reports on public records matters “are systematic and the uniform result of [Credit Plus’s] blind and unjustifiable reliance on an unreliable vendor.”

Because of these kinds of inaccuracies, the Big 3 credit reporting agencies—Experian, Equifax, and TransUnion—entered into a settlement with more than thirty attorney generals in 2015; in 2017, they agreed to report public records information only if it was updated every ninety days. In 2018 and 2019, as part of class action settlements, the Big 3 stopped reporting public records and tax liens.

LexisNexis, the complaint claims, marketed its RiskView Liens and Judgment Report as offering information not provided by the Big 3. The complaint says, “Nowhere in the announcement or its website did Credit Plus (or LexisNexis) acknowledge that the reason the Big 3 ceased reporting liens and judgements was because of LexisNexis’s faulty data.”

Article Type: Lawsuit
Topic: Consumer

Most Recent Case Event

Credit Plus Inaccurate Information on Credit Reports FCRA Complaint

July 22, 2021

The Fair Credit Reporting Act (FCRA), says the complaint for this class action, requires that consumer reporting agencies “follow reasonable procedures to assure maximum possible accuracy of the information” in their reports. However, the complaint claims, Credit Plus, a reseller reporting agency, does not do this. It alleges that Credit Plus gets public records information from another company but does not verify that that information is correct.

Credit Plus Inaccurate Information on Credit Reports FCRA Complaint

Case Event History

Credit Plus Inaccurate Information on Credit Reports FCRA Complaint

July 22, 2021

The Fair Credit Reporting Act (FCRA), says the complaint for this class action, requires that consumer reporting agencies “follow reasonable procedures to assure maximum possible accuracy of the information” in their reports. However, the complaint claims, Credit Plus, a reseller reporting agency, does not do this. It alleges that Credit Plus gets public records information from another company but does not verify that that information is correct.

Credit Plus Inaccurate Information on Credit Reports FCRA Complaint
Tags: Credit Reports, FCRA, Providing Inaccurate Information on Credit Reports