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AP National Business

CFPB sues TransUnion for violating previous agreement

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Published 10:39 AM

By KEN SWEET
AP Business Writer

NEW YORK (AP) — The Consumer Financial Protection Bureau sued credit company TransUnion and one of its long-time executives on Tuesday, alleging the company completely “disregarded” a previous order from five years ago to stop selling dubious credit-related products and marketing. TransUnion entered into an agreement with the CFPB in 2017, agreeing to pay $13.9 million in restitution and $3 million in civil penalties, saying it would stop trying to sell customers credit monitoring subscription products and would provide a clear way for customers to cancel a subscription if they no longer wanted it. The CFPB alleges that TransUnion ignored the order, and executives continued to sell these products despite agreeing not to.

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