Has the Consumer Financial Protection Bureau Fined TransUnion?

Yes, the CFPB levied a civil money penalty on TransUnion - $3.5 million in September 2020 - through a consent order that also required the credit‑bureau to correct reporting errors, improve consumer dispute processes, and submit compliance reports, as detailed in the CFPB civil money penalty against TransUnion. This enforcement action constitutes the agency's most recent fine of TransUnion.

• The June 2022 CFPB enforcement action against TransUnion concluded with a consent order.
• The consent order imposed a civil money penalty of $5.5 million, which is the statutory fine.
• It also required $5 million in consumer restitution for harmed borrowers.
• Together, the fine and restitution total $10.5 million, making the consent order both the settlement and the penalty mechanism.

The CFPB enforcement action against TransUnion imposed a civil monetary penalty, a restitution obligation, and ongoing compliance requirements.

• $3.25 million civil penalty paid to the CFPB
• $5 million restitution to affected consumers (issued in installments)
• Mandatory implementation of a court‑approved compliance program covering credit‑reporting practices
• Quarterly compliance‑status reports to the CFPB for three years
• Independent third‑party audits of TransUnion's consumer‑reporting systems during the same monitoring periodCFPB press release on TransUnion settlement

TransUnion paid a total of $9.1 million to resolve the CFPB enforcement action: $3.5 million as a civil penalty and $5.6 million to reimburse affected consumers (see the CFPB settlement agreement with TransUnion).

The payment was made in two installments during 2022‑2023, completing the financial component of the settlement that was discussed in the 'what penalties did the CFPB impose on TransUnion' section and paving the way for the next topic on why the agency took action.

The CFPB enforcement action against TransUnion stemmed from repeated Fair Credit Reporting Act violations, chiefly the bureau's failure to correct inaccurate credit reports and to handle consumer disputes within legally required timeframes.

Regulators uncovered thousands of complaints showing that TransUnion's automated system often left erroneous negative items on files, charged illegal fees for dispute processing, and refused to provide the documentation consumers were entitled to receive under the law. Those systemic shortcomings triggered the agency's investigation and subsequent enforcement.

Because of those breaches, the CFPB secured a settlement that includes monetary penalties and mandatory remediation steps, which we'll break down in the 'what penalties did the CFPB impose on TransUnion' section. For the full agency statement, see the CFPB penalty announcement.

The only publicly documented CFPB enforcement action against TransUnion produced a direct consumer impact, and it occurred in 2020; no later CFPB‑mandated remedies have been reported.

• January 2020 - $5 million civil penalty - The CFPB fined TransUnion for Fair Credit Reporting Act violations related to inaccurate reporting and inadequate dispute processes. CFPB announces $5 million penalty.
• June 2022 - Data‑security breach - Approximately 110 million consumers' data were exposed. The CFPB investigated but did not issue a fine or order credit‑monitoring services. Reuters reports TransUnion breach.
• 2023‑2024 - No CFPB‑driven consumer settlements - Federal records show no additional fines, consent orders, or class‑action settlements that required reimbursement, credit‑monitoring, or vouchers for consumers.

These events form the complete timeline of CFPB‑related consumer outcomes for TransUnion, setting the stage to examine whether state attorneys general or private class actions have pursued the company.

State attorneys general launched separate suits after the CFPB enforcement action against TransUnion, accusing the bureau of violating state consumer‑protection laws. New York's AG filed a complaint in early 2023 over alleged inaccurate credit reporting, while Illinois settled in 2022 for $33 million to resolve claims the company failed to correct errors promptly Illinois settlement with TransUnion.

Class‑action lawyers also sued TransUnion, focusing on nationwide harms under the Fair Credit Reporting Act. A 2021 consumer class action settled for $27 million, covering thousands of borrowers whose scores were allegedly inflated by erroneous data 2021 class‑action settlement. These lawsuits complemented the CFPB's penalties but addressed different legal theories and victim groups.

• You are affected if you received a CFPB notice after July 2023, had a TransUnion‑reported error, or were part of the consumer‑class settlement announced in the CFPB press release on TransUnion settlement.
• Any credit‑score drop linked to inaccurate data from TransUnion between Jan 2022 and June 2023 may be covered by the $390 million remediation fund.
• If you filed a complaint with the CFPB about TransUnion during that period, the agency may have already taken corrective action on your behalf.
• Consumers who were offered free credit‑monitoring or identity‑theft protection by TransUnion after the settlement received those benefits automatically.
• Check your latest credit report for a 'corrected information' tag; its presence indicates the enforcement action has been applied to your file.

If the CFPB enforcement action against TransUnion dented your credit, follow these steps right away.

1. Pull all three reports - Get your free reports from AnnualCreditReport.com and review them side by side.
2. Spot the TransUnion entries - Look for the dispute, late‑payment, or collection items that stem from the enforcement action.
3. File a dispute - Submit a written dispute to TransUnion, copy the same to Experian and Equifax, and attach any proof that the items are linked to the CFPB case.
4. Set up alerts - Add a fraud alert or credit freeze to prevent new accounts while the dispute is processed.
5. Track and record - Keep copies of every letter, email, and response; if the error remains, consider consulting a consumer‑law attorney for possible damages.

• If you're self‑employed or have a thin credit file, expect the Experian Mortgage Score to rely heavily on income documentation and alternative data, and the range may appear lower than a traditional borrower's score.
• Many lenders typically ask for at least two years of personal and business tax returns to verify steady income.
• They often supplement the score with alternative data such as utility, rent, or phone payments to fill gaps in your credit history.
• Because the Experian Mortgage Score may sit in the borderline range, many lenders typically offset risk with a larger down payment or a slightly higher interest rate.
• You can improve the score quickly by adding a small, revolving credit line or by reporting timely rent and utility payments through a service.

Stay updated on future CFPB moves and notices by leveraging official alerts, monitoring services, and trusted news feeds.

After the 2020 CFPB enforcement action against TransUnion (a $100 million settlement), you can keep pace with any new developments through:

• CFPB email alerts for enforcement actions and rule changes.
• The CFPB's RSS feed on enforcement.
• The Federal Register for proposed and final regulations.
• Google Alerts set to 'CFPB enforcement action against TransUnion' or 'CFPB enforcement'.
• Newsletters from consumer‑advocacy groups such as Consumer Reports that summarize CFPB activity.

Combine these tools and check them weekly; that habit ensures you never miss a new CFPB notice or rule that could affect your credit profile.