FTC: Equifax Kept Consumers on Hold Too Long

Share this content:
Credit reporting agency Equifax Inc. paid $250,000 to settle a federal complaint that it failed to provide prompt service to consumers calling a toll-free line to obtain their credit reports, the Federal Trade Commission said yesterday.

Equifax failed to provide enough personnel answering calls on the hotline, the FTC said. Blocked-call rates and hold times exceeded limits set forth in a 2000 agreement in which Equifax a settled a lawsuit alleging Fair Credit Reporting Act violations, according to the FTC.

Equifax failed to meet the specified performance standards during certain periods of 2001, the FTC said.

In the 2000 agreement, the three credit reporting agencies, including Equifax, settled charges that they blocked calls from about 1 million consumers who called the toll-free hotline to obtain the contents of their credit reports and kept others on hold for unreasonably lengthy periods. In addition to agreeing to performance standards, the reporting agencies paid $2.5 million as part of the settlement.


Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above