CHICAGO, Jan. 13 /PRNewswire/ -- Trans Union LLC is pleased with the
agreement reached today with the Federal Trade Commission (FTC) which
establishes industry-wide service levels for credit reporting companies'
toll-free consumer service telephone lines. Working closely with the FTC, we
have agreed on benchmarks that will ensure continued quality telephone service
for consumers calling about information contained in their credit report.
Trans Union's Oscar Marquis, vice president and general counsel, commented
on negotiations with the FTC by saying, "We had a fruitful and worthwhile
discussion to arrive at meaningful standards for consumer telephone service.
We worked closely with the FTC to draw up these voluntary standards and will
continue to work closely with the FTC in the future."
The Fair Credit Reporting Act (FCRA) does not contain any specific
standards for telephone service levels. It requires only that national
consumer reporting companies include a statement on credit report disclosures
sent to consumers that the company has a toll-free number at which personnel
are accessible to consumers during normal business hours. The law does not
define what constitutes "accessible." The Consent Decree, to which all three
national credit reporting companies have agreed, provides that at least 90% of
calls placed to the toll-free numbers during normal business hours will be
connected to a consumer assistance center and those calls will be answered by
a consumer service representative within three-and-one-half minutes on
average.
Trans Union's Consumer Relations Vice President Dave Wolff says, "Trans
Union has steadily worked to provide a quality level of service to consumers
and in many cases, our answer rate has well exceeded 90 percent. We've made
additional investments by installing new phone systems and expanding our
staffing to enhance this service."
As one of the nation's leading consumer credit information companies,
Trans Union's commitment to customer service and consumer privacy remains
strong. Marquis adds, "We will continue working diligently not only to meet
appropriate service levels -- but to exceed them, and to ensure that consumers
continue to receive the highest quality service available." As part of the
settlement agreement, Trans Union has agreed to pay the FTC $1 million.
Trans Union's toll-free telephone service was established in July 1997 for
consumers to call and dispute information in their credit report, once they
receive a copy in the mail. The consumer service line is available to
consumers from 8:30 a.m. to 4:30 p.m., local time, Monday through Friday,
nationwide. Trans Union also provides a 24-hour, seven days a week toll-free
number for consumers to request a copy of their credit report for free if they
have been denied credit, or for an $8.50 fee in most states if they have not.
To protect consumer privacy, Trans Union cannot disclose credit information
over the phone. To request a copy, consumers can call 800-888-4213.
Trans Union is one of the nation's leading information companies, serving
all 50 states through its own sales offices and independent credit bureaus.
The company provides a broad range of industries with information-based
products and services. Trans Union also offers similar products through its
operations in Puerto Rico, Canada, Italy, Mexico, South Africa, Hong Kong,
Chile, Kenya, Peru and Spain. For more information about Trans Union products
or services, visit the company on the Internet at http://www.transunion.com.
SOURCE Trans Union LLC
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Related links:
http://www.transunion.com
CONTACT:
Oscar Marquis, VP-General Counsel of Trans
Union, 312-466-7774; or Media Information, Scott Ablin of The
Financial Relations Board, 312-274-2274
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