||Link to StoryLink to Story
|Equifax, Inc.; Experian Information Solutions, Inc.; TransUnion LLC; VantageScore Solutions LLC.
||Fair Isaac Corporation (now operating as FICO); myFICO Consumer Services, Inc.
||U.S. District Court for the District of Minnesota
||A claim that one of the three credit agencies violated its contract with FICO by developing a competing credit scoring model was dismissed. The judge also dismissed claims of antitrust violations and false advertising.
||Fair Isaac Corp.. et al. v. Equifax, Inc. et al.
|Ace Group, Inc. a Delaware corporation, also d/b/a American Credit Experts, Inc., The Ace Group, Inc., The Ace Group, and Ace, Legal Credit Repair Center, Inc., a Florida Corporation, also d/b/a LCRC, Michael Singer, Melvin Kessler, and Gerald Roth
||Federal Trade Commission
||United States District Court Southern District of Florida
||$21 million judgment, suspended as long as defendants Singer and Roth pay $5,000 each
||The FTC announced a settlement with defendants whom the FTC alleged promised to remove negative but accurate credit items, including bankruptcy, for an initial fee of $59.95 and monthly fees of $59.95. Dispute letters sent to credit reporting agencies by defendants failed to improve credit reports. As part of the settlement, the defendants are barred from violating the Credit Repair Organizations Act by charging advanced fees or claiming they can permanently remove negative items.
||Federal Trade Commission et al v. The Ace Group,Inc. et al.
|Metropolitan Home Mortgage Inc.
||Federal Trade Commission
||Settlement over allegations it didn’t make proper disclosures on pre-screened credit offers.
||United States (For the Federal Trade Commission), Plaintiff, v. Metropolitan Home Mortgage, Inc., a corporation, also doing business as Wholesale Home Lenders, Defendant.
||Civil Action No. 09-05873 (JSL) (RZx), FTC File No. 0823104
|Wells Fargo Bank, N.A.
||Marika Hamilton, an individual, on her own behalf and on behalf of all others similarly situated
||U.S. District Court for the Northern District of California
||A class action complaint was filed against Wells Fargo Bank, N.A. accusing the bank of freezing millions of dollars in lines based on “falsely claiming” that borrowers finances had materially changed. Wells is also claimed to have violated the Truth-in-Lending Act by suspending HELOCs based on disputed derogatory credit items.
||Hamilton v. Wells Fargo Bank, N.A.
|Wells Fargo Home Mortgage
||Reed & Mary Ann Fisher
||Court of Appeals of the State of California, Fourth Appellate District, Division Two
||A $1 million dollar judgment against Wells Fargo Mortgage was reduced to $500,000.
||Reed & Mary Ann Fisher v. Wells Fargo Home Mortgage