Agency settles with FTC over 'free' credit reports
"A subsidiary of Experian, one of the three major credit bureaus, has settled government charges that it misled consumers into signing up for its credit-monitoring service by promising them free credit reports.
The subsidiary, Consumerinfo.com, agreed to pay refunds to aggrieved consumers, fully disclose the terms of its offers and pay $950,000, the Federal Trade Commission said Tuesday. The money will go toward consumer-education programs, the FTC said.
The FTC complaint said Consumerinfo.com's ads promised consumers they could obtain free credit reports and free trials of a credit-monitoring service through its Web sites, www.freecreditreport.com and www.consumerinfo.com. However, the ads and Internet sites failed to adequately explain that consumers would automatically be charged $79.95 unless they canceled the service in 30 days, the FTC said."
From USA Today/Yahoo! News
The subsidiary, Consumerinfo.com, agreed to pay refunds to aggrieved consumers, fully disclose the terms of its offers and pay $950,000, the Federal Trade Commission said Tuesday. The money will go toward consumer-education programs, the FTC said.
The FTC complaint said Consumerinfo.com's ads promised consumers they could obtain free credit reports and free trials of a credit-monitoring service through its Web sites, www.freecreditreport.com and www.consumerinfo.com. However, the ads and Internet sites failed to adequately explain that consumers would automatically be charged $79.95 unless they canceled the service in 30 days, the FTC said."
From USA Today/Yahoo! News
posted by Dave at 11:06 AM
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