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This story was updated to add new information. More than 50,000 Credit Karma customers will soon receive checks or PayPal payments as part of a $2.5 million Federal Trade Commission payout.
Credit Karma denied wrongdoing and paid $3 million to resolve the accusations, according to the commission. ... Information on when payments will be mailed was unavailable as of Dec. 7 ...
Credit Karma is in legal trouble because it was pushing supposedly “pre-approved” credit cards on customers who then got rejected by credit card companies, hurting their credit scores ...
In August 2021, Credit Karma reached an agreement with NBA franchise Houston Rockets to have the company's name appear on the team's jerseys beginning in the 2021 season. [26] In September 2022, the Federal Trade Commission (FTC) ordered Credit Karma to pay its users $3 million for "false claims" that impacted their credit scores. [27]
Lin has said the inspiration for Credit Karma began in 2006 when he was discouraged by the cost of obtaining his credit score and sought to create an alternative. [3] Credit Karma was established to provide free credit scores and proved to be a hit, growing (according to the company) to over 85 million users by 2020. [4]
In December 2023, claim forms began mailing to millions of business owners in the class who accepted Visa and/or Mastercard payment cards during the 15-year class period from January 1, 2004, to January 25, 2019. [3] The claims period was extended from May 31 to August 30, 2024, and further extended to February 4, 2025.
Credit Karma customers who were deceived by the credit service's company's alleged false "pre-approved" offers will get $2.5 million from the Federal Trade Commission (FTC).. The FTC on Thursday ...
Cash App was ordered to pay out $15 million in damages. Some users may be eligible to submit a claim for up to $2,500. Money: FTC sends over $2.5 million to 51,000 Credit Karma customers after ...