Alabama to receive more than $137,000 in credit reporting settlement

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Alabama will receive more than $137,000 in a multistate settlement over a dispute about credit reporting errors.

State Attorney General Luther Strange said in a statement Wednesday that Alabama will receive $137,018 in a settlement with national credit reporting agencies Equifax Information Services LLC, Experian Information Solutions Inc., and TransUnion LLC.

The settlement requires the agencies to move more quickly to fix disputed information on credit reports, wait longer before adding items and more carefully scrutinize certain data they’re furnished with by collection agencies and others.

Officials say the settlement calls for the agencies to pay 31 participating states $6 million for costs associated with an investigation into consumer complaints about credit reporting errors.

Strange says the settlement will mean better service for consumers in Alabama and elsewhere.

Republished with permission of The Associated Press. 

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