The U.S. Court of Appeals for the Third Circuit recently rendered a decision on a common issue in cases against consumer reporting agencies (and furnishers) under the Fair Credit Reporting Act, 15 U.S.C. Section 1681 et seq....more
With the ongoing COVID-19 pandemic, credit card companies may face increased scrutiny, as Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio recently stated that "credit reports play a huge role in...more
8/24/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Counterparties ,
Credit Cards ,
Credit Reporting Agencies ,
Credit Reports ,
Debt Buyers ,
Debt Collection ,
Due Diligence ,
ECOA ,
Enforcement Actions ,
FDCPA ,
Financial Services Industry ,
FTC Act ,
Government Investigations ,
Gramm-Leach-Blilely Act ,
Identity Theft ,
OCC ,
Risk Management ,
Settlement Negotiations
In TransUnion LLC v. Ramirez, the U.S. Supreme Court upended a class damages award of $40 million under the Fair Credit Reporting Act (FCRA) against TransUnion, one of the "Big Three" credit reporting agencies. The 5-4...more
7/2/2021
/ Article III ,
Class Action ,
Class Members ,
Credit Reporting Agencies ,
Credit Reports ,
Fair Credit Reporting Act (FCRA) ,
Injury-in-Fact ,
SCOTUS ,
Standing ,
TransUnion ,
TransUnion LLC v Ramirez