TD Bank must repay customers after the Consumer Financial Protection Bureau found the company shared inaccurate information with reporting companies.
NBC10 Responds reminds everyone to check credit reports regularly after the Consumer Financial Protection Bureau found TD Bank shared inaccurate information with consumer reporting companiesThe Consumer Financial Protection Bureau has ordered TD Bank to pay $7.76 million to tens of thousands of victims of the bank’s illegal actions.
The agency said that these kinds of reports -- including credit reports, employment screening reports, tenant screening reports, and other background reports -- are often used by financial institutions, employers, and landlords, among others, to decide whether to extend credit, housing, or employment to a consumer.
Contacted for comment, TD Bank responded with a statement that read, before the settlement with the CFPB, the bank had already"implemented enhancements" to address"these matters."
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