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Arizona among states getting money from credit-reporting settlement

PHOENIX — Arizona is getting more than $160,000 as part of a $6 million,
multistate settlement with the nation’s three largest credit reporting agencies.

The settlement announced Wednesday requires Equifax, Experian and TransUnion to
move more quickly to fix disputed information on credit reports.

The three also will have to wait longer before adding items and more carefully
scrutinize certain data they’re furnished by collection agencies and others.

Attorneys general in Arizona and 30 other states initiated an investigation in
2012 after an Ohio newspaper reported that consumers had been denied car loans,
house loans and even jobs because of mistakes on their credit reports.

The three credit reporting agencies also have to change certain business
practices over the next three years under the settlement, which still is subject
to court approval.