July 24, 2018 / 9:58 PM / 7 months ago

TransUnion sued over putting payday loans on credit reports

Chicago-based credit bureau TransUnion has been hit with a proposed class action accusing it of violating federal law by including void and uncollectible payday loans on credit reports for thousands of consumers in more than a dozen states.

Filed on Monday in Chicago federal court, the lawsuit said TransUnion’s practice of reporting illegal payday loans as collectible debt hurts consumers’ credit scores, raising the risk they will be turned down for loans, jobs or rental housing.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2A5fj5L

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