Sterling Infosystems, Inc. pays $8.5 million in CFPB lawsuit

CFPB

The Consumer Financial Protection Bureau brought suit against Sterling Infosystems earlier this year for failure to follow three key guidelines in the Fair Credit Reporting Act:

  1. Failure to employ reasonable procedures that ensured maximum accuracy of reported consumer information.
  2. Failure to to maintain procedures that ensured the public record information it was supplying was up to date.
  3. Reporting criminal history outside of the reporting scope.

At the end of November, Sterling was ordered to pay $6 million in monetary relief to the affected consumers and a $2.5 million fine.

For more information about this settlement, and to learn more about these FCRA guidlines, please see the judgment and the CFPB press release:

CFPB Press Release

CFPB Judgment

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