Welcome!
If you have an account, please:
Log in

FreeCreditReport.com Class Action Suit!

This totally made my day:

A Wisconsin college student filed a class-action complaint against Experian this week, claiming that the company's ubiquitous ads for FreeCreditReport.com led her to believe she could use the site to get a no-cost credit report.

Go figure! Someone believed that FreeCreditReport means you can get a free credit report? What are the odds!?

How this has gone on this long I'll never know. Even after 11,000 Better Business Bureau complaints the most that's been done to date was the very cool FTC spoof videos making fun of FreeCreditReport's TV ads where they did everything short of calling them crooks.

It's such an exquisite pleasure to watch this bogus company go down; let's hope this suit sticks.

Update June 2010:

It's probably been a month or two (or three or four) since this happened, but as a result of the lawsuit, the FTC has required them to put a giant banner on the top of their website saying essentially that they're full of it. Granted, the site should just have been shut down, but it's still nice to see.

Hard to sell your supposedly free reports now isn't it?

Looking back from 2019:

The FTC filed their own lawsuit and won, but the measly ~1 million fine was so much less than the $72 Million they could afford just for theirdeceptive ad campaign, it just goes to show that founding a company in fraud is a solid business strategy. But I suppose it's not all bad… there was brand new legislation passed as a result of their scam:

The advertising practices of FreeCreditReport.com were specifically addressed in the Credit CARD Act of 2009. Now any company who advertises a 'free credit report' on TV or radio must include the statement: "This is not the free credit report provided for by Federal law." The law also calls for the Federal Trade Commission to issue new rules that will force free credit report advertisers to inform consumers that the only place for a free credit report is AnnualCreditReport.com.

On a lighter note, the Federal Trade Commission was so fed up with Freecreditreport.com, they made these awesome spoof videos:

Tags: , , , , ,

Senator Wants Free Credit Report Companies to Actually OFFER Free Reports

U.S. Senator Charles E. Schumer is my hero of the day.
"If these companies want to say — or sing for that matter — that they are giving people free credit reports, then they can't charge people $15 a month, simple as that," Schumer said. "For years, these companies have said with a smile that they will provide a free credit report — even though the government already requires a credit report be provided for free every year – and then suddenly, months later consumers get a bill in the mail for their credit monitoring services. My plan would finally bust up this scam and give consumers some honest choices."
Tags: , , , , ,

Industry Grows Around ID Theft Prevention

Rather than preventing the problem, many companies are satisfied (and make tons of profit) by inventing new services to attack the symptoms rather than the problem. Don't waste your time or money. Get a credit freeze and don't worry about all the snake oil. (H/T to The Consumerist for the link) Tags: , ,
IDENTITY THEFT
How to Steal Identities - Why It's So Easy
Credit Freeze
Out and About Defense
credit-monitoring
id-theft-insurance
The Identity Theft Victim's Mini-Guide to Recovery
PRIVACY
The Geek Privacy Principle
Nothing to Hide
Data Abuse
RFID - Radio Frequency IDentification
Privacy Alias/Persona
Out and About Defense
INTERNET SAFETY
Online Addiction
The Consequences of Posting Online
Photo Safety
Tricks and Scams
Account Hijacking
Trusting Companies
PASSWORDS
Bad Passwords
Password Tips and Tricks
Password Protection
Password Mugging
Computer Security
E-mail Safety
Kids and Computers
Shopping Online
Retailers
All About Warranties