CFPB, FTC fine TransUnion $23M for tenant screening and security freeze failures

Federal regulators fined credit-reporting agency TransUnion a total of $23 million for tenant screening and security freeze failures on Thursday. The Consumer Financial Protection Bureau and the Federal Trade Commission fined TransUnion $15 million because the company did not take steps to ensure the rental background checks that landlords use to decide who gets housing were accurate. They fined the company another $8 million for falsely telling consumers they placed or removed security freezes and locks on credit reports. TransUnion told tens of thousands of consumers their requests were completed when, in reality, the requests were dumped into a yearslong backlog.