News & Analysis as of

Fair Credit Reporting Act (FCRA) Credit Reporting Agencies

Orrick, Herrington & Sutcliffe LLP

6th Circuit reverses decision on plaintiff’s FCRA claim

On August 19, the U.S. Court of Appeals for the Sixth Circuit reversed a District Court’s decision on the FCRA’s reasonable procedures and reasonable reinvestigation provisions. The 6th Circuit found that a consumer reporting...more

McGlinchey Stafford

Litigation Byte (August Edition)

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The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

McGlinchey Stafford

FCRA Action Dismissed for Lack of Standing and Failure to State a Claim

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In July 2024, the United States Court for the District of Massachusetts dismissed a pro se litigant’s claims against Experian Information Services LLC (Experian), TransUnion LLC (TransUnion), and Equifax Information...more

Orrick, Herrington & Sutcliffe LLP

7th Circuit: Credit reporting agency did not provide inaccurate info

On August 7, the U.S. Court of Appeals for the Seventh Circuit affirmed a lower court’s decision in favor of a credit reporting agency (the defendant), finding it did not report inaccurate credit information. An individual...more

Goodwin

CFPB Files Suit Against "Rent-to-Own" Business Alleging Illegal Lending Practices

Goodwin on

​​​​​​​​On July 26, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint against a point-of-sale financing company and its former chief executive officer in the United States District...more

McGlinchey Stafford

Litigation Byte (June Edition)

McGlinchey Stafford on

The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

Goodwin

CFPB Proposes Rule to Ban Medical Debt from Credit Reports

Goodwin on

Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA), as to medical information and debt. This proposed rule...more

McGlinchey Stafford

FCRA Claims Against Credit Reporting Agencies: NY Court Emphasizes Minimal Pleading Requirements

McGlinchey Stafford on

On June 6, 2024, the United States District Court for the Eastern District of New York dismissed claims for violations of the Fair Credit Reporting Act (FCRA)—15 U.S.C. §§ 1681e(b) and 1681i in particular—against a credit...more

Stotler Hayes Group, LLC

Should Medical Debt Be Excluded from Credit Reports? The CFPB Thinks So

The Consumer Financial Protection Bureau (“CFPB”) is poised to take medical debt off the table for creditors when evaluating a consumer’s eligibility for credit. As it is currently enacted, Regulation V of the Fair Credit...more

Cozen O'Connor

CFPB Proposes Rule Addressing Medical Debt in Credit Reporting

Cozen O'Connor on

The CFPB issued a request for comment on its proposed Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V), which would amend regulations implementing the Fair Credit...more

Orrick, Herrington & Sutcliffe LLP

CFPB bans medical debt in credit reporting decisions

On June 11, the CFPB released a proposed rule to ban obtaining or using medical information for credit eligibility determinations. Specifically, the proposed rule would amend the FCRA to remove the medical financial...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes Rule to Transform Credit Reporting Practices on Medical Debt

On June 11, the CFPB announced a proposed rule amending Regulation V, which implements the Fair Credit Reporting Act, to alter the treatment of medical debts in credit reporting. The rule proposes to remove medical bills from...more

Cooley LLP

CFPB Proposes Rule Removing Medical Bills From Credit Reports

Cooley LLP on

On June 11, 2024, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule that would generally prohibit lenders from considering medical debt information when determining a consumer’s eligibility for credit,...more

Ballard Spahr LLP

CFPB alleges dark patterns in suit against fintech peer-to-peer lender

Ballard Spahr LLP on

On May 17, 2024, the Consumer Financial Protection Bureau (“CFPB”) filed suit against an online lending platform, alleging, among other things, the use of dark patterns to induce consumers to pay tips and donations,...more

Troutman Pepper

Sixth Circuit Holds FCRA Preempts Defamation Claim

Troutman Pepper on

The U.S. Court of Appeals for the Sixth Circuit affirmed a district court’s decision holding that the Fair Credit Reporting Act (FCRA) preempted the plaintiff’s state law defamation claim based on information furnished to a...more

Orrick, Herrington & Sutcliffe LLP

11th Circuit finds plaintiffs failed to show FCRA information is “objectively” available

On April 24, the U.S. Court of Appeals for the Eleventh Circuit found a defendant, a hotel timeshare company, not liable to two former clients for inaccurately reporting their unpaid debts to a consumer reporting agency (CRA)...more

Troutman Pepper

Ninth Circuit Affirms Summary Judgment Finding that Furnisher Conducted a Reasonable Investigation into Dispute

Troutman Pepper on

In an unpublished decision, the U.S. Court of Appeals for the Ninth Circuit recently affirmed the decision of a California district court finding that the furnisher conducted a reasonable investigation under the Fair Credit...more

Blank Rome LLP

Eleventh Circuit Affirms Dismissal of FCRA Claims Since Alleged Inaccurate Information Was Not Objectively and Readily Verifiable

Blank Rome LLP on

Financial institutions, credit furnishers, debt collectors, and other businesses reporting consumer information to credit reporting agencies should take note that the Eleventh Circuit Court of Appeals has declined to impose a...more

Hudson Cook, LLP

CFPB Bites of the Month - April 2024 - Won't Get Fooled Again, CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" covered during the April 2024 webinar....more

Troutman Pepper

Resolving FCRA Disputes With e-OSCAR: Insights from Joel Strickland — FCRA Focus Podcast

Troutman Pepper on

In this episode of Troutman Pepper's FCRA Focus podcast, host Kim Phan delves into the topic of dispute resolution through the e-OSCAR system with special guest, Joel Strickland, the director of customer success at e-OSCAR....more

Troutman Pepper

General Counsel of the CFPB Delivers Remarks Focusing on Medical Collections and Tenant Screening

Troutman Pepper on

In a recent speech at the National Consumer Law Center/National Association of Consumer Advocates Spring Training, Seth Frotman, General Counsel of the Consumer Financial Protection Bureau (CFPB or Bureau), focused on medical...more

Ballard Spahr LLP

CFPB Spring 2024 Supervisory Highlights looks at consumer reporting companies and furnishers

Ballard Spahr LLP on

The CFPB has released the Spring 2024 edition of Supervisory Highlights.  The report discusses CFPB examinations in connection with credit reporting and furnishing that were completed from April 1, 2023 through December 31,...more

Sheppard Mullin Richter & Hampton LLP

Latest CFPB Supervisory Highlights Keys in on Accuracy in Consumer Credit Reports

On April 8, the CFPB published its Spring 2024 Supervisory Highlights detailing key findings from the CFPB’s recent examinations into perceived accuracy problems in the credit reporting system. Notably the report focused...more

Shipkevich PLLC

CFPB Casts Larger Net over Credit Data Brokers, Furnishers, and Reporting Agencies.

Shipkevich PLLC on

Elections are looming around the corner for President Biden, which means it’s time to show results. In an effort to make an impact, the Consumer Financial Protection Bureau (“CFPB”) is making strides in the consumer credit...more

Epstein Becker & Green

Fair Credit Reporting Act Preempts State Law Defamation Claim Over Background Check

Recently, the Sixth Circuit found that the Fair Credit Reporting Act (“FCRA”) preempted a former employee’s state law defamation claim against his former employer.  While the FCRA can impose burdensome requirements on the...more

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