Monday, September 15, 2008

Credit Bureau Pays Out ... To You?

So this is interesting.

Apparently, TransUnion credit bureau is on the hook to provide either a cash settlement or free credit-monitoring services to millions of consumers. This as a result of the settlement of a class-action lawsuit claiming that TransUnion violated state laws and the Fair Credit Reporting Act when it sold lists containing personal and financial consumer information to third parties for marketing purposes.

TransUnion, of course, denies any claims of wrongdoing on its part. Which is par for the course in the case of a negotiated settlement. But that, really, is neither here nor there.

Because consumers (this might well be you) have until September 24, 2008, to register for benefits under the settlement. As of August 22nd, about 380,000 people had registered for the credit monitoring services, cash payment, or both, out of 150 million potentially eligible consumers.

Which leaves me sitting here, wishing I was an American right at the moment. Because only consumers who had an open credit account or an open line of credit from a credit grantor located in the United States are included in the class action.
The Settlement Class is defined as: All consumers who had an open credit account or an open line of credit from a credit grantor located in the United States at any time during the period January 1, 1987 to May 28, 2008. The term “Plaintiff Settlement Class” shall include, without limitation, any classes asserted or certified in the Andrews Action and the Frey Action. Excluded from the Plaintiff Settlement Class are (a) Defendants and their predecessors, affiliates, subsidiaries, officers, directors and employees, (b) counsel for any of the Settling Parties in these Actions, and (c) any and all judges and justices assigned to hear any aspect of the Actions, along with their staff, the spouses of the foregoing and any children residing in their households.
Might that include you?

You might want to check it out.
And remember, you only have until Sept. 24th to register.

H/T to GeriLaw


Anonymous said...

Thanks Michelle

Hey, Have you gone skydiving yet?


MMC said...

It is a sad tale of woe, it is.

First I hurt my knee. Pretty good too, if I do say so myself. But my knee is 90% better now and my sis-in-law (who was going to jump with me) tells me that I now have to wait for her to come back and visit. So we can jump together. Problem is she lives in Manitoba. I am hoping she will be down the end of this month which should just give us time to jump this year.

Otherwise it's wait until next summer. And that might not be good, both because I've never been particularly good at patience and because I might just spend the money I put away for the jump by then. ~ sigh ~