Sunday, September 14, 2008

150 Million Eligible for Free Credit Monitoring and Potential Cash Payout From TransUnion Settlement. Prior TransUnion Acct Not Req'd for Eligibility

As of August 22nd, only 380k of 150 million have applied for free credit monitoring and potential cash payout from a TransUnion class action settlement.

TransUnion is being nailed by this class action lawsuit because of alleged violations of the Federal Fair Credit Reporting Act. TransUnion is electing to settle and claims to have discontinued alledged practices in 2001.

The class action eligibility pool is:

"All consumers who had an open credit account or an open line of credit from a credit grantor located in the United States at any time during the period January 1, 1987 to May 28, 2008. The term “Plaintiff Settlement Class” shall include, without limitation, any classes asserted or certified in the Andrews Action and the Frey Action. Excluded from the Plaintiff Settlement Class are (a) Defendants and their predecessors, affiliates, subsidiaries, officers, directors and employees, (b) counsel for any of the Settling Parties in these Actions, and (c) any and all judges and justices assigned to hear any aspect of the Actions, along with their staff, the spouses of the foregoing and any children residing in their households."

A good article providing details of the settlement, as well as deadlines for applying can be found here.

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