Squitieri & Fearon, LLP is currently investigating lenders’ unlawful practices of pulling consumers’ credit reports without cause or consent. Credit reports contain personal information that is protected by federal law. Lenders can only check a person’s credit report for a reason expressly authorized under the Fair Credit Reporting Act. However, lenders systemically overstep their authority by invasively collecting consumers’ personal information to use for their own gain. Not only do such intrusions violate consumers’ privacy, they also lower consumers’ credit scores, thus jeopardizing approvals for loans or even employment.
Examples of unauthorized credit checks include:
· A creditor of a closed-end loan (a loan dispersed in full when granted) reviews your credit to market more credit options to you.
· A creditor pulls your credit report to open an account in your name without your permission.
· A creditor pulls your credit report after you discharged that debt in bankruptcy.
· A credit card company pulls your report, but you were only an authorized user — not an obligor — that account.
If you believe that you are suffered harm as a result of unauthorized credit pulls by banks or other lenders, contact us by filling out the form below:
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