On November 4, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion, stating that a consumer reporting agency (CRA) that engages in name-only matching violates the Fair Credit Reporting Act’s (FCRA)...more
Today, the Supreme Court issued its opinion in TransUnion LLC v. Ramirez, holding that a concrete injury requires more than the existence of a risk of harm that never materializes. Accordingly, the vast majority of the absent...more
The U.S. Supreme Court heard oral argument yesterday in TransUnion LLC v. Ramirez, a case in which the Supreme Court is once again grappling with the requirements of Article III standing — this time in the context of class...more
2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions...more
3/3/2021
/ Background Checks ,
Banking Sector ,
Bankruptcy Code ,
Banks ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Lenders ,
Student Loans ,
TCPA
The year 2020 was an unprecedented year, but one thing remained constant: the number of Fair Credit Reporting Act (FCRA) case filings continued to increase dramatically. In addition to new filings, the year saw several key...more
Addressing a recurring issue bedeviling the background screening industry, the U.S. Court of Appeals for the Eleventh Circuit confirmed on December 4 that it is not inaccurate for a consumer reporting agency (CRA) to report a...more
Colloquially known as the ‘‘Rocket Docket,’’ the Eastern District of Virginia (‘‘EDVA’’) has been the speediest federal court for civil trials since 2008, according to the annual data compiled by the Administrative Office of...more
8/24/2020
/ Actual Damages ,
Article III ,
Bristol-Myers Squibb Co v Superior Court of California - San Francisco County ,
Class Action ,
Class Certification ,
Credit Reports ,
Defense Strategies ,
Dismissals ,
EFTA ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
FRCP 23(a) ,
Injury-in-Fact ,
Personal Jurisdiction ,
Remand ,
Standing ,
Statutory Damages ,
Statutory Violations ,
Truth in Lending Act (TILA)
The case law surrounding the Fair Credit Reporting Act (FCRA) is ever-changing, and staying up to date on certain, key statutory definitions is a core compliance task for any company subject to the FCRA....more
8/5/2020
/ Background Checks ,
Background Screening Services ,
Consumer Information ,
Consumer Reporting Agencies ,
Consumer Reports ,
Corporate Counsel ,
Credit Reports ,
Criminal Background Checks ,
Due Process ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Guilty Pleas ,
Hiring & Firing ,
Independent Contractors ,
Punitive Damages ,
Putative Class Actions ,
Screening Procedures ,
Summary Judgment