COLUMBUS, Ohio — Three nationwide credit reporting agencies have agreed to fix disputed information on credit reports more quickly, wait longer before adding potentially damaging information on medical debt and scrutinize certain data furnished by outside entities, according to a multistate settlement announced Wednesday.
Ohio Attorney General Mike DeWine announced the pact that Equifax, Experian and TransUnion struck with attorneys general in 31 states. It calls for the agencies to pay a combined $6 million to participating states and to adjust a host of business practices over the next three years.
“It’s a good day for all consumers in the United States,” said DeWine, a Republican. He spearheaded the investigation that led to the deal after reading a 2012 investigation by The Columbus Dispatch about consumers denied car loans, house loans and jobs because of mistakes by reporting agencies.