One of the largest U.S. consumer reporting agencies has agreed to settle with the Federal Trade Commission (FTC) over charges it “improperly sold lists of consumers who were late on their mortgage payments,” in violation of the FTC Act and the Fair Credit Reporting Act. Equifax Information Services, LLC, will pay $393,000 over allegations that its “inadequate procedures” led to the sale of more than 17,000 lists to firms that “should not have received them.” Direct Lending Source, which bought the lists and resold some of them to third parties, will pay $1.2 million.
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