A little industry gossip on Teletrack

Teletrack, Inc. has agreed to pay $1.8 million to settle Federal Trade Commission charges that it sold credit reports to marketers, in violation of the Fair Credit Reporting Act (FCRA).”

It goes on to say, “For example, Teletrack sold lists of consumers who previously sought payday loans to third parties that wanted to use this information to target potential customers.”

Now, were they selling your payday information to other payday lenders or were they selling this data to other industries?  Does not say.  In Teletrack’s defense the fine was for sharing consumers personal data.  I’m not sure how it harmed lenders.

You can read the full article at the FTC’s website here.

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