November 20, 2017 / 6:13 PM / 25 days ago

U.S. CFPB fines Conduent for bad credit information

WASHINGTON, Nov 20 (Reuters) - The U.S. Consumer Financial Protection Bureau on Monday said it had fined Xerox Business Services, LLC, now known as Conduent Business Services, $1.1 million for software errors that led to credit reporting agencies receiving incorrect information about over 1 million people.

The settlement comes as the bureau, created after the 2007-09 financial crisis to protect consumers from predatory lending, takes a closer look at the flow of information to and from credit-reporting agencies in the wake of this year’s security breach and hacking of Equifax Inc. (Reporting by Lisa Lambert, editing by G Crosse)

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