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FTC Takes on 'Free' Credit Report Minstrels

Latest showdown between Feds and credit bureau goes viral

By Harry Kimball,  Newser Staff

Posted Nov 3, 2009 10:44 AM CST
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(Newser) – A long-running battle between the Federal Trade Commission and credit bureau Experian has blossomed into a viral video showdown of sorts. Experian runs FreeCreditReport.com—beneficiary of the cheeky slacker music video/ads. The FTC thinks—rightly, in the opinion of many—that the company is intentionally diverting consumers from the actual free reports on AnnualCreditReport.com. So they made some videos, too.

Turns out Experian will give you that free report on the condition that you sign up for its monthly monitoring service, which makes them money and does you little good. “Does the average person really need to see their credit reports more than once every four months?” an advocate asks the New York Times, citing the frequency of free reports mandated by law. “That’s paranoia.” Of course, most consumers get wise to the uselessness of monitoring sooner or later, hence the ubiquitous ads, and the FTC riposte.

A shot from a FreeCreditReport com ad.
A shot from a FreeCreditReport com ad.   (Boosh4205212)
The FTC's riposte to the Experian ads.
The FTC's riposte to the Experian ads.   (Federal Trade Commission)
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An AnnualCreditReport.com commercial, produced by the FTC.   (BrightStarCU)
A freecreditreport.com commercial.   (jack2016)

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We had these roaring debates, saying you can’t call it freecreditreport.com because it’s not free. We had put them on notice. But the money spoke louder. - Evan Hendricks, former member of Experian consumer advisory panel

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COMMENTS
Showing 3 of 11 comments
tomodachi
Nov 4, 2009 12:15 PM CST
I couldn't agree more JoeQ. How is it that a company can collect personal information about YOU... and sell it to anybody willing to pay them for it... without telling you who, what, where, when, or how.... and YOU don't have unfettered access to this information?? Insane.
Fondue
Nov 3, 2009 11:51 AM CST
Thanks for stating the obvious.
Blackbird
Nov 3, 2009 10:55 AM CST
Make them put a disclaimer on the ad stating that they can really get it free at annualcreditreport.com
Money • US

 
TV advertising • consumer credit • Experian • Federal Trade Commission • credit report • credit bureau • freecreditreport.com • annualcreditreport.com

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