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|EXPERIAN TO OPEN NEW CONSUMER CREDIT MARKET IN INDIA

The Wall Street Journal is reporting that Experian has gained approval to operate consumer credit reporting in India.  WSJ Report.   However, this is old news.  Experian received a license from the Reserve Bank of India to operate an Indian credit bureau several months ago.  

Richard Fiddis, Managing Director for Emerging Markets, Experian, said:  “The RBI’s decision to grant us the first full licence to operate a credit bureau in India signals the next phase of our development.  This creates a platform for us to introduce a wide range of new products and services to help India’s growing financial services and telecommunications sectors better acquire and retain profitable customers.  Experian Press Release.   

Experian wants to replicate its profitable American business model abroad.  In 2009, Experian grossed $3.9billion.  Click HERE for Experian financial status update.    

Will Indian consumers struggle to get their Experian credit reports corrected?  What rights will Indian consumers have?   Time will tell.  

American consumers have federal rights under the Fair Credit Reporting Act (FCRA).  For example, under 15 USC 1681i, consumers may dispute inaccurate information contained in their credit report.  Under this same provision, a consumer reporting agency, like Experian, has a duty to investigate the dispute and delete inaccurate information.  

If you have reviewed your Experian credit report and discovered an inaccurate item and need help disputing the inaccurate information, then contact consumer credit lawyer Micah Adkins for a free legal consultation.