FTC Over Changes to Marketing Disclosures
COSTA MESA, Calif., Aug. 16 /PRNewswire/ -- ConsumerInfo.com, an Experian
company and national leader in providing online credit and identity theft
protection products to consumers, announced certain changes the company has
agreed to make to the way terms of a long-standing marketing program are
provided to consumers, in accordance with an agreement with the Federal Trade
Commission (FTC). Many of today's announced changes were completed in
September 2003 based on initial discussions and approval by FTC staff.
For 10 years the company has offered consumers a free credit report in
conjunction with a 30-day free trial of the company's credit monitoring
product. The offering of free trial subscriptions is common in many
industries and provides great value to consumers. The FTC first expressed
concern in July 2002 that certain terms of that program were not fully
understood by consumers. Although the company denies that its sites were ever
misleading to consumers, over the past three years it has fully cooperated
with the FTC to resolve their concerns.
ConsumerInfo.com firmly believes that the terms of any free trial
subscription should be explained clearly. The terms of ConsumerInfo.com's
free trial subscription have always been clearly and completely published on
the company's Web site and have always been fully disclosed to the consumer in
the course of the ordering process. The changes announced today largely
involve the location and frequency of notices to consumers about the terms of
the free trial offer.
Since the free credit report provision of the Fair and Accurate Credit
Transactions Act (FACT Act) went into effect December 2004, ConsumerInfo.com
has provided full and complete disclosure statements that clearly
distinguished between the FACT Act-mandated free credit report program and the
free credit report that the company had been offering for many years prior to
the implementation of the FACT Act. The agreement reached with the FTC
requires some minor modifications to those existing disclosures. The company
will make those changes in accordance with the agreement.
In order to put this dispute behind it, the company has agreed to provide
refunds to certain customers who purchased its credit monitoring product
online before changes were made to the Web sites in September 2003. The
company stands behind its products and is proud of the valuable benefits
credit monitoring provides to millions of satisfied consumers. The company
has agreed to contact those consumers in accordance with the terms of the
agreement reached with the FTC.
ConsumerInfo.com was acquired by Experian in 2002 and is a national leader
in providing online credit and identity theft protection products to
consumers. ConsumerInfo.com offers consumers instant access to their credit
reports and credit scores for all three national credit reporting companies as
well as credit monitoring products that monitor credit files daily and alert
consumers when changes occur in their credit report.
Donald Girard, +1-714-830-5647, firstname.lastname@example.org, or Heather Greer,
+1-714-830-7756, email@example.com, both of Experian
-0- Aug/16/2005 14:18 GMT
Press spacebar to pause and continue. Press esc to stop.