News & Analysis as of

Credit Reports Fair Credit Reporting Act

Trans Union Hit with Largest FCRA Verdict to Date

Trans Union, LLC, one of the largest credit reporting agencies in the United States has been hit with a verdict by a California jury for $60 million, which is the largest verdict under the Fair Credit Reporting Act (FCRA) to...more

TransUnion Hit with Record $60 Million Dollar Verdict in FCRA Class Action

by Hinshaw & Culbertson LLP on

A California jury recently returned a large verdict in a Fair Credit Reporting Act ("FCRA") case which alleged that TransUnion's credit reporting confused the class consumer names with the names of criminals and terrorists on...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

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

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

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

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

by Davis Wright Tremaine LLP on

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

Spokeo Gets Lyft Off

by Carlton Fields on

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

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

by Dorsey & Whitney LLP on

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

Use of Credit Information for Employment Screening

by Arnall Golden Gregory LLP on

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

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

by Ballard Spahr LLP on

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

Supreme Court’s Spokeo Decision Leaves Questions Unresolved

by Carlton Fields on

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

New Putative FCRA Class Action May Signal a Trend

by Ballard Spahr LLP on

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

New Guidance Issued on FCRA Compliance in Employee Screening

by Ballard Spahr LLP on

The Federal Trade Commission (FTC) has issued new guidance to help background screening companies comply with the Fair Credit Reporting Act (FCRA) when conducting background checks on current or prospective employees. The new...more

FTC Releases Updated FCRA Guidance On Background Checks

by Littler on

On May 10, 2016, the Federal Trade Commission (FTC) released a new publication related to background checks and the Fair Credit Reporting Act (FCRA) titled What Employment Background Screening Companies Need to Know About the...more

FTC Publication for Background Screeners

by Arnall Golden Gregory LLP on

The Federal Trade Commission (FTC) just issued guidance for companies providing employment screening services. According to the FTC, they have “created new guidance for businesses aimed at giving employment background...more

Registration Requirement for CRAs in Rhode Island

by Arnall Golden Gregory LLP on

Rhode Island has a quirky statute that arguably requires any consumer reporting agency who provides credit reports or information to state residents to register with the Department of State – Business Services Division. I...more

CFPB Tackles Checking Accounts With Compliance Bulletin, Letter to Banks

Why it matters - Taking a deep dive into the area of checking accounts, the Consumer Financial Protection Bureau (CFPB) sent a letter to 25 of the largest retail banks "encouraging them to make available and widely...more

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