Teletrack, Inc,. has agreed to pay $1.8 million to settle Federal Trade Commission allegations that the company sold credit reports for marketing purposes, in violation of the Fair Credit Reporting Act. According to the FTC’s complaint, Teletrack sells credit reports and other services to businesses that mainly serve money-strapped consumers.
Teletrack is owned by data vendor CoreLogic. Its business customers include payday lenders, rental purchase stores and non-prime rate auto lenders. According to the FTC's complaint, the company kept a database of people who applied for quick cash or credit and sold it to companies who wanted to target those customers.