AccuSource Blog

Credit Bureaus Remove Tax Lien Data from Consumer Credit Reports

TransUnion announces additional changes regarding collection and reporting of public record information


update-keyOn July 1, 2017, TransUnion, Equifax and Experian adopted increased restrictions in their public records collection practices, requiring each citation to include the person’s name and address plus either their date of birth or social security number. The restrictions in reporting practices was estimated to eliminate nearly all civil judgement records and approximately 50% of all tax lien records previously included in consumer credit reports, according to a New York Times article published in June 2017.

In a communication recently released by TransUnion, effective the week of April 16, 2018 TransUnion will stop reporting tax lien information and will remove all tax liens from their consumer credit reports. The agency indicated this action is in response to their desire to settle pending litigation and adhere to the increased standards of the National Consumer Assistance Plan (NCAP.) TransUnion further clarified its intent to continue to report bankruptcy public record data. They also shared Experian and Equifax have indicated they will make comparable changes to their reporting practices in April 2018.

For more information on the use of credit reports for employment purposes, please contact AccuSource at 888.649.6272 or marketing@accusource-online.com

 

 

For more information on consumer credit reporting and background screening services, see the articles below:

Cynthia Woods

Cynthia Woods

Interested in learning more? Click here or call us at 888.649.6272 today! 

   Learn More   

Subscribe to Receive Blog Updates

Human Resources Today