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hpmfinancial
1444 Posts |
 Posted - 07/11/2008 : 6:03:03 PM
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Looks like this might be the precursor to trigger leads getting a class action. Go here for the full settlement: https://www.listclassaction.com/content/Summary_Notice.pdf
LEGAL NOTICE
A settlement worth at least $75 million has been reached with Trans
Union LLC and Acxiom Corporation (“Defendants”) in a class action
lawsuit that claims the Defendants violated state laws and the Fair Credit
Reporting Act (“FCRA”) when they sold lists containing personal and
financial consumer information to third parties for marketing purposes.
The settlement does not mean the Defendants violated any laws or did
anything wrong. The Defendants deny any claims of wrongdoing in
this case.
The United States District Court for the Northern District of Illinois
will have a hearing to decide whether to give final approval to the
settlement, so that benefits can be issued. Those included in the class
action, together called a “Class,” may object to the settlement or ask to
speak at the hearing. Eligible Class members may also sign up for credit
monitoring or other benefits from the settlement. For more information,
including a detailed notice, go to www.ListClassAction.com or call,
toll-free, 1-866-416-3470.
WHO’S INCLUDED?
The Court decided that the Class includes all consumers who had
an open credit account or an open line of credit from a credit grantor
(including, for instance automobile loans, bank credit cards, department
store credit cards, other retail store credit cards, finance company loans,
mortgage loans, and student loans) located in the United States anytime
from January 1, 1987 to May 28, 2008.
WHAT DOES THE SETTLEMENT PROVIDE?
The settlement will: (1) establish a $75 million Settlement Fund; (2)
give Class members the option of selecting six or nine months of credit
monitoring services; (3) donate $150,000 to non-profit organizations;
(4) pay for settlements or judgments for damage claims related to
lawsuits brought individually by Class members against the Defen-
dants; (5) pay class counsels’ attorneys’ fees and their expenses; (6) pay
the costs of notice and administering the settlement; and (7) distribute
any money remaining (after deducting the costs for everything listed
above) in the Settlement Fund to Class members who register for a
payment or to non-profit organizations.
The six months of credit monitoring services (which retails for
$59.75) include: (1) the ability to lock your credit report so third
parties, such as lenders or other companies, will not be able to access
your credit report without your consent (unless allowed by law); (2)
unlimited daily access to your Trans Union credit report and credit
score; and (3) credit monitoring with a 24-hour email credit notifica-
tion service. The nine months of enhanced credit monitoring services
(which retails for $115.50) includes all the services listed above, plus
a suite of insurance scores and a mortgage simulator service. If you
get the enhanced credit monitoring you will not be able to get a payment
from the settlement or start an individual lawsuit. More details on all
of the settlement benefits are available in the Settlement Agreement
which can be obtained at www.ListClassAction.com or by calling,
toll-free, 1-866-416-3470.
HOW DO YOU ASK FOR BENEFITS?
To receive credit monitoring from the settlement you must go to
www.ListClassAction.com and register by September 24, 2008. If
you register, you will have six months after the Court grants final
approval to the settlement and all appeals are resolved to activate your
credit monitoring benefit. You may also register at the website or by
mail until September 24, 2008, to receive a possible cash payment.
YOUR OTHER RIGHTS.
Whether or not you seek any benefits being offered as part of this
settlement, all Class members will not be able to participate in a class
action or join multiple plaintiffs in a single action. You may object to
the settlement by August 22, 2008. The detailed notice explains how
to object. Your options for benefits provided by the settlement are as
follow:
• File an individual lawsuit against Defendant(s) for claims
related to target marketing and prescreening: You can also sign
up for six months of credit monitoring.
• Sign up for six months of credit monitoring services: You can
also register to receive a possible cash payment in the event of a cash
distribution or file an individual lawsuit against the Defendants.
• Sign up for nine months of enhanced credit monitoring services:
You will not receive any further benefits, including a cash payment, and
you will not be able to file an individual lawsuit against the Defendants.
• Register to receive a possible cash payment: You can also sign
up for six months of credit monitoring; however if you receive a cash
payment, you cannot file an individual lawsuit against the Defendants.
• Do Nothing: You won’t get any benefits. You will keep your right
to sue the Defendants individually (see the detailed notice and Settlement
Agreement for more information).
The Court will hold a hearing in this case on September 10, 2008,
at Courtroom 1703, Everett McKinley Dirksen Building, 219 S.
Dearborn St., Chicago, IL 60604, to consider whether to approve the
settlement, and set a date to consider a request by Class Counsel for
attorneys’ fees of up to 25% of the Settlement Fund, and reimbursement
of costs and expenses. Class Counsel will also request a payment of
up to $3,750 for each of the Class Representatives who helped the
lawyers on behalf of the whole Class. Class members may ask to appear
and speak at the hearing at their own cost, but they don’t have to. For
more information, call, toll-free, 1-866-416-3470 or go to the website
shown below.
If you had a credit card, loan or
credit account, you could get benefits
from a class action settlement.
www.ListClassAction.com 1-866-416-3470
Para una notificación en Español, llamar o visitar nuestro website.
In re Trans Union Corp. Privacy Litigation, Case No. 00-CV-4729, MDL Docket No. 1350,
U.S. Dist. Ct., N. Dist. Illinois, Eastern Division, Judge Robert W. Gettleman
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AGreene00
2739 Posts |
Posted - 07/11/2008 : 6:08:45 PM
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| Down with trigger leads! |
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broker949
206 Posts |
Posted - 07/11/2008 : 6:12:52 PM
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| They have ads for this website on tv asking people to join it. I think it affects a lot of people. It's funny that if you choose the cash option you have to wait at least 2 years for it and if there's not enough for everyone they donate it to charity instead. |
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hlsi
191 Posts |
Posted - 07/11/2008 : 6:44:24 PM
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Good.
I opposed trigger leads, not because I thought it was unfair for brokers to have to compete for business, but because I thought it was bogus for the bureaus to claim to have a business relationship with the customer that they could assign to a third party to get around the DNC list.
I also found that many buyers of trigger leads would lie about what company they were calling from, to try to trick the person who answered the phone into thinking they were with the mortgage company the customer had just signed up with.
So I'm happy to see the bureaus get ****ed on this. |
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FundStar14
684 Posts |
Posted - 07/11/2008 : 8:55:11 PM
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quote:
Originally posted by hlsi
Good.
I opposed trigger leads, not because I thought it was unfair for brokers to have to compete for business, but because I thought it was bogus for the bureaus to claim to have a business relationship with the customer that they could assign to a third party to get around the DNC list.
I also found that many buyers of trigger leads would lie about what company they were calling from, to try to trick the person who answered the phone into thinking they were with the mortgage company the customer had just signed up with.
So I'm happy to see the bureaus get ****ed on this.
What Neil said ;-) |
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homebroker@sbcgl
2067 Posts |
Posted - 07/11/2008 : 9:53:26 PM
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| Its about time this ended! |
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hpmfinancial
1444 Posts |
Posted - 07/13/2008 : 12:51:45 PM
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quote:
Originally posted by homebroker@sbcglobal.net
Its about time this ended!
My thoughts exactly. |
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MisterVA
5844 Posts |
Posted - 07/13/2008 : 2:23:29 PM
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| Now if only 'creditors' would get $11,000 fines for bogus reporting... |
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darkstar
15855 Posts |
Posted - 07/13/2008 : 2:51:32 PM
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| I'm not so sure we should be too excited, you tell me, do you think they're going to eat that or pass it on to us?... |
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MisterVA
5844 Posts |
Posted - 07/13/2008 : 3:17:04 PM
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quote:
Originally posted by darkstar
I'm not so sure we should be too excited, you tell me, do you think they're going to eat that or pass it on to us?...
There is no such thing as a corporate tax. Or fine. |
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CreditTechnologi
455 Posts |
Posted - 07/14/2008 : 05:21:39 AM
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Ken Harney, a nationally syndicated writer for the Washington Post did an article on this last month entitled "Keep Watch on Your Credit Report -- Free." It walks you through the available options and benefits to consumers.
It's available at http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=229659 |
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EMScommercial
4700 Posts |
Posted - 07/14/2008 : 12:27:58 PM
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| Amen! |
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htdifinancial
1512 Posts |
Posted - 07/16/2008 : 06:57:09 AM
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They will make that money right back. After the people get on their "Free" credit monitoring service and like what they have, they will pay for the service and the lawsuit just ended up being a very expensive lead generation program for them.
Marketing plan
$75 million for XXX amount of leads
Offer leads free credit monitoring service
YYY amount Leads will stay on the program and pay monthly fees
Slick |
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nationwide1156
22 Posts |
Posted - 07/16/2008 : 07:48:06 AM
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| 200 million trigger leads sold class action suit filed and settled for 75 million income from selling trigger leads 350 million less 75 mil legals fee and cost 25 mil ding ding profit of 250 mil, just the cost of doing business not a bad deal |
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htdifinancial
1512 Posts |
Posted - 07/16/2008 : 08:15:20 AM
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| exactly! |
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