Equifax failed in its basic duty to investigate and resolve consumer disputes about inaccurate information on their credit reports.”

CFPB took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.

The Consumer Financial Protection Bureau fined Equifax $15 million over credit reporting errors. The CFPB alleged the credit bureau failed to properly investigate consumer disputes. Credit reports have a significant impact on consumer finances,