News & Analysis as of

Credit Reports

Credit reporting standards for civil judgments and tax liens to change July 1

by Ballard Spahr LLP on

An informative new American Banker podcast discusses recent and possible future changes to traditional credit scores, what they mean for industry, and possible industry responses. The podcast begins with a discussion of...more

CFPB Examines Complaints Filed By Older Consumers

by Goodwin on

On May 31, 2017, the Consumer Financial Protection Bureau (CFPB) issued its Monthly Complaint Report, this month complaints by consumer aged 62 and older. The CFPB drew its analysis of more than 103,100 complaints from its...more

$3M Penalty for Credit Reporting Agency in CFPB Action

A major credit bureau and its subsidiaries will pay a civil penalty of $3 million, revise how it represents how the credit scores it markets to consumers are used, and put in place changes in its compliance management system...more

CFPB issues report on consumers transitioning out of credit invisibility

by Ballard Spahr LLP on

The CFPB has issued a new report, “Data Point: Becoming Credit Visible,” that discusses how consumers transitioned out of “credit invisibility” and how such transitions differed across consumers of different ages and across...more

FCRA Class Plaintiff Lacked Injury Needed for Standing Under Spokeo, 4th Circuit Holds

by Ballard Spahr LLP on

An $11.7 million judgment awarded against credit reporting company Experian in a 69,000-member class action brought under the federal Fair Credit Reporting Act (FCRA) was vacated by the Fourth Circuit in Dreher v. Experian...more

Litigation Alert: The Fourth Circuit Finds No Article III Injury in Fair Credit Reporting Act Case

by Fenwick & West LLP on

The U.S. Court of Appeals for the Fourth Circuit held that the plaintiff’s allegations that Experian denied him access to information to which he was entitled under the Fair Credit Reporting Act was insufficient to establish...more

Fourth Circuit Applies Spokeo to Vacate $11.7 Million Class Action Judgment

by Williams Mullen on

The U. S. Court of Appeals for the Fourth Circuit has held that a class representative who failed to allege a concrete injury from incomplete or incorrect information on his credit report did not satisfy the standing...more

Fourth Circuit Vacates $12M FCRA Class Action Judgment Against Experian

On May 11, 2017, the Fourth Circuit Court of Appeals vacated a $12 million judgment against Experian Information Solutions, Inc. (“Experian”) in a class action against the credit reporting bureau alleging violations of the...more

CFPB April 2017 complaint report highlights student loan complaints, complaints from Nevada consumers

by Ballard Spahr LLP on

The CFPB has issued its April 2017 complaint report that highlights student loan complaints. The report also highlights complaints from consumers in Nevada and the Las Vegas metro area....more

How’d You Score That? CFPB Fines Experian Because of Misleading Credit Score Marketing

Whether it’s a football game, a standardized test, or a person’s credit, scores matter. In the case of consumer credit scores, the difference between falling in the high and low ends of the score spectrum impacts the...more

Credit Monitoring Services: A How-To Guide

by Bryan Cave on

Organizations are not, generally, required to offer services to consumers whose information was involved in a breach. Nonetheless, many organizations choose to offer credit reports (i.e., a list of the open credit accounts...more

CFPB March 2017 complaint report highlights credit card complaints, complaints from Massachusetts consumers

by Ballard Spahr LLP on

The CFPB has issued its March 2017 complaint report that highlights credit card complaints. The report also highlights complaints from consumers in Massachusetts and the Boston metro area. ...more

Retail and Consumer Products Law Roundup - March 2017

Retailers Prevail Over Pharmacy Customers in California Tax Suit - Retailers have won a victory in the realm of California taxation in McClain v. Sav-on Drugs (March 13, 2017) __ Cal.App.5th __ (Nos. B265011 &...more

CFPB settles with consumer reporting agency for alleged UDAAP/FCRA violations

by Ballard Spahr LLP on

The CFPB announced that it has entered into a consent order with Experian, a consumer reporting agency, for allegedly engaging in the deceptive marketing of credit scores in violation of the Consumer Financial Protection...more

Credit Reporting Remains a High Priority for the CFPB

The CFPB confirmed credit reporting remains a high priority for the agency by issuing a special Supervisory Highlights devoted to credit reporting earlier this month. The report was generally complimentary of the strides...more

New Mexico comes late to data breach party, requires promptness

by Thompson Coburn LLP on

Thirteen years after the first state data breach notification law was enacted, New Mexico has finally decided to join the other 47 states with such laws, sending HB15 in mid-March to Gov. Susana Martinez for signature...more

CFPB Monthly Report Returns its Focus to Credit Reporting

The CFPB issued its monthly report on consumer complaints this month, providing a high-level snapshot of the recent trends in consumer complaints. The Report provides a summary of the volume of complaints by product category...more

Financial Services Weekly News - March 2017 #4

by Goodwin on

Editor's Note - The Battle Over the Proposed OCC FinTech Charter Continues. The Office of the Comptroller of the Currency (OCC) has released a draft supplement to its Licensing Manual explaining the process for FinTech...more

Market Solutions, Volume 26, No. 1

by Morrison & Foerster LLP on

Sanctions: Will the Trump Administration Stay the Course? President Trump made many statements during the campaign regarding actions he plans to take to reverse Obama administration sanctions policies. These included...more

CFPB Explores Use of Alternative Data in Calculating Credit Scores

by Baker Donelson on

The CFPB is exploring the use of alternative data in an effort to expand credit access to consumers who lack enough of a credit history to obtain a credit score. Traditionally, a credit score is based on a consumer's history...more

Student Loan Servicers Still Looking for Clarification on Reporting Obligations

There is surprisingly little guidance for student loan servicers when it comes to credit reporting. The only recent guidance directed at loan servicers came by way of an announcement from the U.S. Departments of Education and...more

CFPB May Focus on Credit Reporting as an Enforcement Priority

by Goodwin on

On February 28, 2017, the CFPB issued its monthly complaint report spotlighting credit reporting complaints (the Spotlight). Two days later, the Bureau issued a Special Edition of its Supervisory Highlights Report, which also...more

California Employment Law Notes - March 2017

Victoria Zetwick, a county correctional officer, alleged that the county sheriff created a sexually hostile environment in violation of Title VII and the California Fair Employment and Housing Act by, among other things,...more

CFPB Monthly Report Returns its Focus to Credit Reporting and Mortgage Complaints Fall Out of the Top Three

The CFPB issued its monthly report on consumer complaints last week. The report is a high-level snapshot of trends in consumer complaints. The Reportprovides a summary of the volume of complaints by product category, by...more

CFPB February 2017 complaint report highlights credit reporting complaints, complaints from Louisiana consumers

by Ballard Spahr LLP on

The CFPB has issued its February 2017 complaint report that highlights credit reporting complaints.  The report also highlights complaints from consumers in Louisiana and the New Orleans metro areas....more

217 Results
|
View per page
Page: of 9
Cybersecurity

"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 using*

Already signed up? Log in here

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