The agency representing U.S. financial consumers has ordered Toronto-based TD Bank to pay $28 million (U.S.) for repeatedly sharing "inaccurate" and "negative" information about its customers to credit bureaus, potentially harming the credit scores of thousands of consumers.
The Consumer Financial Protection Bureau (CFPB) said in a statement on Wednesday that, for years, the bank reported systemic errors about credit card delinquencies and bankruptcies to providers of consumer reports such as Equifax and TransUnion, which also operate in Canada.
Other times, it alleges the bank gave them information about accounts it knew or suspected were fraudulent.
The bureau added that the bank was aware of many of these inaccuracies, but took "far too long" to correct them sometimes longer than a year.
Bu hikaye Toronto Star dergisinin September 12, 2024 sayısından alınmıştır.
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Bu hikaye Toronto Star dergisinin September 12, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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