Credit Reports

News & Analysis as of

D.C. Council Passes Ban on Credit History Screens on Job Applicants, Interns, Employees

The Washington D.C. Council unanimously passed the “Fair Credit in Employment Amendment Act” (Bill 21-244) to amend the Human Rights Act of 1977 and prevent employers from taking discriminatory action against applicants,...more

CFPB Enters Consent Orders with Credit Reporting Agencies Over Allegedly Deceptive Credit Scores

On January 3, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into two consent orders, available here and here, with two national credit reporting agencies over allegations that the...more

SoFi Settlement Provides Lessons for Lenders Marketing “Soft Pull” Preapprovals

Originally published in the FinTech Law Report, Volume 19 - September/October 2016. A class action was filed in November 2014 against Social Finance, Inc. (SoFi) for alleged violations of law stemming from its marketing...more

CFPB issues brief on consumers without credit histories or credit scores

In May 2015, the CFPB issued a report, “Data Point: Credit Invisibles,” that documented the results of a research project undertaken by the CFPB to better understand the demographic characteristics of consumers without...more

CFPB's First Project Catalyst Innovation Report Addresses FinTech Regulation

In October, the CFPB issued its first ever Project Catalyst Innovation Report highlighting "innovation insights" by FinTech companies in multiple areas. The CFPB launched the Project Catalyst initiative in November 2012 with...more

Spokeo Gets Lyft Off

The Northern District of California dismissed a Fair Credit Reporting Act case against Lyft upon finding that plaintiff lacked Article III standing based on the Supreme Court’s decision in Spokeo, Inc. v. Robins, 136 S. Ct....more

Hiring Without Headaches – A Possibility or Fantasy?

So this week, I’ll be speaking at our firm’s semi-annual Labor & Employment Law seminar. Amazingly, we have reached capacity for this event and are now taking names for a waiting list! Many thanks to all who have signed up. ...more

After the FACTA: A Judgment Creditor Must Establish a “Credit” Transaction to Get a Credit Report

On July 25, 2016, the United States District Court for the Western District of Washington held that before obtaining a consumer’s credit report, a third party judgment creditor must establish that the transaction at issue is...more

Update on Data Breach and Data Privacy Class Actions Post-Spokeo

In May, the U.S. Supreme Court issued its opinion in Spokeo v. Robins, providing guidance on the “injury-in-fact” aspect of the constitutional standing requirement for putative class action plaintiffs. 136 S. Ct. 1540...more

Is Hiring Without Headaches Even Possible?

In the course of my litigation cases, I’ve had a good-natured argument at times with a few counsel who represent employees about the mindset of employers. The argument I’ve heard from them is that employers are too cavalier...more

Use of Credit Information for Employment Screening

Background checks for employment screening purposes may contain different information. Most common would be the use of criminal history information, but there are times when an employer requests that their background...more

CFPB sues credit repair company

The CFPB announced that it has filed a lawsuit in a California federal district court against a credit repair company for alleged violations of the Consumer Financial Protection Act (CFPA) and Telemarketing Sales Rule (TSR)....more

CFPB Focuses on Bank Accounts, Services Complaints for August

Bank accounts and services were the focus of the Consumer Financial Protection Bureau’s (CFPB) August snapshot of consumer complaints. What happened - Each month, the CFPB summarizes recent consumer complaints filed...more

CFPB Monthly Complaint Snapshot Brings Bank Accounts into Focus

On August 31, 2016, the Consumer Financial Protection Bureau (CFPB) released its Monthly Complaint Report for August 2016, this month focusing on complaints concerning bank accounts and related services. The report, which...more

NAIC Cybersecurity Task Force Weighs Credit Freezes

On May 24-25, the NAIC Cybersecurity (EX) Task Force held an interim meeting to hear comments from various industry trade organizations and other interested parties on the proposed Insurance Data Security Model Law exposed...more

What To Do About Employee Thieves—Catch Them If You Can!

Seyfarth Synopsis: When employee theft occurs, employers must be cautious in investigating, avoiding self-help, and in deciding if and how to terminate the offending employee. Companies work hard to hire trustworthy...more

Eleventh Circuit Weighs In on the FCRA’s Furnisher Investigation Requirement

The 11th Circuit has clarified that the Fair Credit Reporting Act (FCRA) requires furnishers of credit information—like their credit reporting agency (CRA) counterparts—to conduct "reasonable" investigations of consumer...more

CFPB’s Proposed Rule Banning Use of Pre-Dispute Arbitration Agreements to Block Consumer Class Actions Signals New Wave of Class...

On May 5, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule which would prohibit application of pre-dispute arbitration agreements to class litigation involving a broad range of consumer...more

Supreme Court’s Spokeo Decision Leaves Questions Unresolved

On May 16, the Supreme Court issued its Spokeo v. Robins decision. Spokeo was a closely-watched case, as it had the potential to substantially limit federal court jurisdiction in cases where plaintiffs sued for violations of...more

Credit Reporting Complaints on the Rise

Every month, the CFPB publishes its "Monthly Complaint Report," which provides a snapshot of complaints received by consumers. Specifically, with respect to credit reporting complaints, in the most recent issue, the CFPB...more

Philadelphia Restricts Employers’ Use of Credit Information

Last month, Mayor Jim Kenney signed amendments to Philadelphia’s Fair Practices Ordinance that restrict employers’ use of credit information for employment purposes. Starting today, Philadelphia employers now generally cannot...more

New Putative FCRA Class Action May Signal a Trend

A borrower recently filed a putative class action against Fannie Mae under the Fair Credit Reporting Act (FCRA) in federal court in Washington, D.C., alleging that Fannie engaged in unauthorized inquiries into borrowers'...more

NAIC Cybersecurity Task Force Weighs Credit Freezes

On May 24-25, the NAIC Cybersecurity (EX) Task Force held an interim meeting to hear comments from various industry trade organizations and other interested parties on the proposed Insurance Data Security Model Law exposed...more

CFPB May 2016 complaint report highlights credit reporting complaints, complaints from New Mexico consumers

The CFPB has issued its May 2016 complaint report which highlights complaints about credit reporting  and complaints from consumers in New Mexico and the Albuquerque metro area.  The CFPB began taking complaints about credit...more

Our thoughts on “Ask CFPB”

In a new blog post, the CFPB promotes its “Ask CFPB” website feature as “a source of clear, impartial answers to hundreds of financial questions.” We agree that the feature can be a source of potentially helpful...more

189 Results
|
View per page
Page: of 8
Popular Topics

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×