The Consumer Financial Protection Bureau (CFPB) has dropped its enforcement action against the consumer credit report provider TransUnion (NYSE: TRU).
According to Reuters, the CFPB initiated its enforcement against TransUnion case in 2022, claiming longtime executive John Danaher violated a 2017 order against deceptive marketing practices related to credit scores and other credit-related products. This is the latest decision by the Trump-era CFPB to drop Biden-era enforcements – last week, the agency dropped enforcement actions against four financial services providers including Capital One (NYSE:COF).
However, the CFPB opted to continue its 2022 enforcement action against the fintech lender MoneyLion, claiming the company charged illegally high interest rates against military servicemembers.
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My credit report was incorrect and nothing was ever done.