FTC fines Credit Reporting Agency for shirking its duties under the Fair Credit Reporting Act

Central Credit, a wholly owned subsidiary of Global Cash Access, Inc., is a specialty credit reporting service to the casino industry. According to the FTC, Central Credit failed to inform its casino customers of their duties under the Fair Credit Reporting Act (“FCRA“). These duties include providing consumers with adverse action notices when a casino would decline to cash a consumer’s check as well as informing the casinos to provide only accurate information about the consumer.


Under the FCRA, when a consumer applies for credit and is declined, the prospective credit grant-or must provide what is usually referred to as an adverse action notice. This is usually a form letter where the credit grantor tells the consumer that he has been declined credit, the reason for the declination and the name of the credit reporting agency that the would be credit grantor used in making that decision.
The FTC also found that Central Credit did not inform consumers of their rights under the FCRA such as how to obtain a free credit report on an annual basis.
It appears that Central Credit did not consider itself a credit reporting agency or simply chose not to follow the laws under the FCRA.
The FTC fined Central Credit $150,000.

If you have been harassed or bullied by a debt collector, or if your credit report is inaccurate and the credit reporting agency will not fix it, email Attorney Gary Nitzkin or call toll free (888) 293-2882. For more information about our firm, visit our website, Michigan Consumer Credit Lawyers. We have a lot of good information including short “how to” videos that you will find useful.

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