Most consumers are familiar with TransUnion. But there are a few interesting tidbits that most people don’t know about the company. Here are a few interesting facts about TransUnion:
Unlike the other two Big Three credit firms, TransUnion is privately held so they don’t have to declare much in the way of earnings or corporate information. They got their start in the personal information business when they bought out the Cook County Credit Bureau, one of the original Welcome Wagon firms.
With this acquisition they basically bought the financial history of the entire city of Chicago in one purchase! Since then, they focused on acquiring more lists from around the world, although they still call Chicago home.
TransUnion was party to a notable and precedent-setting case for the credit repair industry. A courageous and very patient woman by the name of Judy Thomas successfully sued TransUnion for a whopping $5.3 million dollars. Her story was particularly outrageous. She uncovered a simple, glaring error in her credit report and took all the legal steps to get it amended. The process wound up costing her endless hours of paperwork and no less than six years to finally get the false information removed from her credit report.
Keep your eye on your email for even more interesting facts about Experian and the other consumer reporting agencies.
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