The Consumer Financial Protection Bureau on Tuesday levied more than $23 million in fines and restitution against two of the nation's largest consumer credit agencies, saying that the companies deceived consumers into paying for data that had little beneficial value.

In a pair of consent orders, the bureau said that both Chicago-based TransUnion and Atlanta-based Equifax had marketed and sold credit reporting and monitoring services to consumers that misleadingly implied that the data was of a higher value than it actually was. The agencies also enrolled consumers in services that suggested low costs, but which were recurring payment programs that were not sufficiently disclosed.

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