TransUnion Wins Latest Escape From Biden-Era CFPB Settlement (1)

TransUnion won an early exit from a Biden-era Consumer Financial Protection Bureau administrative enforcement action over alleged false statements about placing and lifting security freezes and locks on consumer credit reports.

The administrative action, announced in October 2023, included a five-year compliance-monitoring period. But the CFPB in an order posted this week said it was ending that scrutiny nearly three years early, noting TransUnion had “fulfilled certain obligations” such as paying a $5 million civil money penalty and making procedural changes.

TransUnion was also required to pay $3 million in consumer redress under the settlement. The CFPB in its latest ...