Huge settlement in a legal case originally filed 10 years ago and affecting Transunion's credit reports and 160 million Americans:
"The case being settled stems from a business operated by TransUnion that sliced and diced data from the Chicago-based company's massive credit files to generate customized lists of consumers. Retailers, lenders and other businesses would buy the lists to use in their marketing."
"Under the settlement, anyone who had any type of loan account between January 1987 and Wednesday would be able to select one of two options:
"* A basic service would provide free credit monitoring for six months. It normally retails for $59.75, according to the settlement. Those who select this service can also apply for a cash payment.
"* An enhanced service would provide nine months of free monitoring, plus use of a "mortgage simulator" that lets consumers see whether improving their credit score would affect their mortgage rates and how much they could save if it did."
See the
Los Angeles Times article for an update and for link to the settlement website.
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