News & Analysis as of

Settlement Credit Reports

Hudson Cook, LLP

National Bank Reaches Settlement with the CFPB for Alleged Credit Reporting Violations

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On September 11, 2024, the CFPB issued an administrative consent order against the Bank, alleging multiple violations of the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Furnisher...more

Ballard Spahr LLP

CFPB and FTC announce settlements with TransUnion

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The CFPB and FTC announced last week that they had entered into a settlement with Trans Union LLC (TU LLC) to resolve a lawsuit filed jointly in a Colorado federal district court by the agencies alleging that TU LLC and its...more

Orrick, Herrington & Sutcliffe LLP

District Court gives preliminary approval to $11.5 million FCRA settlement

On January 6, the U.S. District Court for the Northern District of Georgia granted preliminary approval of a $11.5 million settlement in a class action FCRA suit, resolving allegations that a credit reporting agency (CRA)...more

Venable LLP

FTC Action Against Credit Karma Underscores That Conversion Cannot Trump Compliance

Venable LLP on

​​​​​​​The Federal Trade Commission’s recent action against Credit Karma serves as a reminder to advertisers that optimizing consumer conversion is not - and cannot be - the be-all and end-all. Regardless of what split or A/B...more

Goodwin

2021 Year in Review: Consumer Finance

Goodwin on

[co-authors: Amelie Hopkins, and Collin Grier] The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more

Sheppard Mullin Richter & Hampton LLP

FTC: Provider of Business Credit Reports Engaged in Deceptive and Unfair Practices, Refunds Customers

On January 13, the FTC announced that a leading business credit report provider agreed to settle allegations that it had engaged in deceptive and unfair business practices. The FTC alleged that businesses complained of...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 10, 2021)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Goodwin

FTC Reaches Settlement With Debt Collection Company for “Debt Parking” Scheme

Goodwin on

On November 30, 2020 the Federal Trade Commission (FTC) announced ​that it had reached a settlement with a debt collection company for its “debt parking scheme” (also known as “passive debt collection”)​​ in which the company...more

Goodwin

CFPB Settles with Lender and Student Loan Debt Relief Companies Over Alleged Misuse of Credit Reports

Goodwin on

On May 14, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a proposed stipulated judgment and final order with a California-based mortgage lender and several affiliated individuals and...more

Carlton Fields

Financial Services Update: Week Ending November 1, 2019

Carlton Fields on

Financial Services Update - FCCPA and FDCPA: The plaintiff did not demonstrate a genuine issue of material fact that medical providers and their attorney violated the FCCPA and FDCPA by conditioning medical services on a...more

Morrison & Foerster LLP

Déjà Vu: State AG Consumer Reporting Settlement Follows Landmark New York Agreement

On May 20, 2015, 31 states’ attorneys general settled with three major credit reporting agencies (CRAs) for six million dollars and commitments to make a number of changes to their business practices. With the exception of...more

Ballard Spahr LLP

NY Attorney General Enters into Far-Reaching Settlement with Largest Credit Reporting Agencies

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New York Attorney General Eric Schneiderman recently announced that his office reached a landmark settlement with the nation’s three leading credit reporting agencies (CRAs) that will require them to significantly reform,...more

Morrison & Foerster LLP

New York Attorney General and Credit Bureaus Reach Deal Affecting Furnishers of Information to Credit Bureaus

The New York Attorney General announced a settlement with credit bureaus Equifax, Experian and TransUnion regarding credit reporting policies and practices, including methods of addressing inaccuracies identified by...more

Ballard Spahr LLP

FTC Settles Claims Against Credit Repair Company

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The Federal Trade Commission recently announced that it has entered into a settlement with one of the nation’s largest credit repair companies and its owners for alleged violations of the Credit Repair Organizations Act...more

Snell & Wilmer

Global Connection - May 2013: Ninth Circuit Strikes Down $45 Million Class Action Settlement and Issues Warning About Use of...

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Citing a conflict of interest between class representatives and a class, the Ninth Circuit Court of Appeals recently invalidated a $45 million class action settlement that had previously been approved by the district court....more

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