Creditors Practice Section

This section was created for attorneys who are in the creditors practice field. It provides its members the opportunity to exchange information with other practitioners in this area of practice, provides timely CLE and legislative updates.

Chair
Cheadle Law
2404 Crestmoor Road
Nashville, TN 37215
(615)254-1009
Immediate Past Chair
Portfolio Recovery Associates, LLC
120 Corporate Blvd East
Norfolk, VA 23502
(888)772-7326
Vice-Chair
Buffaloe & Vallejo PLC
44 Vantage Way # 500
Nashville, TN 37228
(615)256-2642

Settlement Requires Western Union to Develop Anti-Fraud Program

Tennessee Attorney General Herbert H. Slatery III announced today a multistate settlement with the Western Union Company, following an investigation which focused on complaints from consumers who used Western Union’s services to send money to third parties involved in schemes to defraud consumers. The settlement requires Western Union to develop and put into action an anti-fraud program. Forty-eight states and the District of Columbia participated in this settlement. Read more here.
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Credit Reporting Companies Settle Federal Case

Credit reporting companies Equifax and TransUnion have agreed to pay more than $23 million to resolve claims they misled consumers and lured them into paying monthly fees for credit-related products, the ABA Journal reports. The federal Consumer Financial Protection Bureau announced the settlement this week. According to regulators, the companies touted free or $1 credit scores while enrolling people in automatic renewal programs that cost $16 or more a month, and falsely portrayed the credit scores marketed to consumers as the same scores used by lenders for credit decisions. In reality, lenders use a variety of credit scores, which can vary by provider and target industry.

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