News & Analysis as of

Consumer Reporting Agencies Credit Reporting Agencies Credit Reports

Orrick, Herrington & Sutcliffe LLP

Credit reporting agencies move to dismiss medical debt case

On March 3, a trio of credit reporting agencies (defendants) moved to dismiss a plaintiff’s second amended complaint filed in the U.S. District Court for the Eastern District of California. The defendants faced allegations...more

Cooley LLP

CFPB Proposes New Rules That, If Finalized, Would Significantly Expand FCRA’s Reach

Cooley LLP on

On December 3, 2024, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPR) – Protecting Americans from Harmful Data Broker Practices. The CFPB’s proposal would amend Regulation V, which...more

Orrick, Herrington & Sutcliffe LLP

Congressional Research Service updates its report on alternative data used by credit reporting agencies

On November 7, the Congressional Research Service updated its report on the use of alternative data in financial services. Credit rating agencies rely traditionally on standard data points such as repayment history on...more

Troutman Pepper Locke

Breaking Down Credit Reporting With Credit Builders Alliance — FCRA Focus Podcast

Troutman Pepper Locke on

Join Kim Phan, co-host of the Troutman Pepper podcast, FCRA Focus, as she welcomes special guests from the Credit Builders Alliance (CBA). In this episode, Chief Technical Officer Elisabeth Johnson-Crawford and Manager of...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

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

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

Orrick, Herrington & Sutcliffe LLP

Maryland updates prohibited items reported on consumer credit reports

On May 9, the Governor of Maryland approved SB 41 (the “Act”) which will change the requirements on prohibitions for consumer reporting agencies as to what information they may include in consumer credit reports....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

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

Troutman Pepper Locke

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

Troutman Pepper Locke 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

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

Orrick, Herrington & Sutcliffe LLP

CFPB reports on consumer reporting companies’ lack of compliance

On April 8, the CFPB released its Supervisory Highlights on consumer reporting companies (CRC) and furnishers from April to December 2023. With respect to CRCs, the CFPB found deficiencies related to (i) placing identity...more

Holland & Knight LLP

The FTC Enforces the Fair Credit Reporting Act

Holland & Knight LLP on

In this episode of his "Clearly Conspicuous" podcast series, "The FTC Enforces the Fair Credit Reporting Act," consumer protection attorney Anthony DiResta discusses the Federal Trade Commision's (FTC) recent actions against...more

Troutman Pepper Locke

Year in Review and a Look Ahead: The Evolving Landscape of Background Screening and Credit Reporting — The Consumer Finance...

Troutman Pepper Locke on

Join hosts Dave Gettings, Kim Phan, and Chris Willis in this special crossover episode of FCRA Focus and The Consumer Finance Podcast in the first installment of our Year in Review and a Look Ahead series. They are joined by...more

Troutman Pepper Locke

The 7 Most Notable FCRA Cases of 2023 So Far

Troutman Pepper Locke on

The first half of 2023 has produced significant developments for the Fair Credit Reporting Act. Important decisions have come from multiple areas of the field, including the federal courts of appeals and regulatory agencies. ...more

Ballard Spahr LLP

FTC and CFPB submit amicus brief in Second Circuit on FCRA requirement for furnisher to conduct reasonable investigation of...

Ballard Spahr LLP on

The Federal Trade Commission (“FTC”) and the Consumer Financial Protection Bureau (“CFPB”) have filed a joint amicus brief in which they urge the U.S. Court of Appeals for the Second Circuit to reverse the decision of a New...more

Troutman Pepper Locke

Washington Federal Court Reiterates Distinction Between Furnishers’ and CRAs’ FCRA Investigatory Obligations and the Necessity of...

Troutman Pepper Locke on

A district court in the Western District of Washington held that the Fair Credit Reporting Act (FCRA) does not require a consumer reporting agency (CRA), as part of its investigative duties, to issue an opinion on the legal...more

Troutman Pepper Locke

Michigan Federal Court Summarily Dismisses FCRA Action Alleging Inaccurate Reporting of Charged-Off Auto Loan

Troutman Pepper Locke on

Earlier this month, a district court for the Eastern District of Michigan dismissed on its own initiative a Fair Credit Reporting Act (FCRA) claim brought by a consumer alleging inaccurate reporting of her charged-off vehicle...more

Orrick, Herrington & Sutcliffe LLP

Credit reporter must face FCRA suit on hard-inquiry reinvestigation

On April 10, the U.S. District Court for the Eastern District of Pennsylvania denied a credit reporting agency’s (CRA) motion for summary judgment in a certified class action suit accusing the CRA of willfully violating the...more

Troutman Pepper Locke

Federal District Court Grants Summary Judgment Dismissing Claim that Creditor Conducted an Unreasonable Investigation of a FCRA...

Troutman Pepper Locke on

In Suluki v. Credit One Bank, N.A. (Credit One), the Southern District of New York recently granted summary judgement to a creditor in a suit alleging violations of the Fair Credit Reporting Act (FCRA) for failure to conduct...more

Ballard Spahr LLP

Second Circuit holds inclusion on credit report of student loan debt alleged to have been discharged in bankruptcy did not make...

Ballard Spahr LLP on

The U.S. Court of Appeals for the Second Circuit recently ruled that a plaintiff who alleged that Experian had violated the Fair Credit Reporting Act by including a discharged student loan debt on his credit report had not...more

Foley & Lardner LLP

The Consumer Financial Protection Bureau Issues 2022 Annual Report of Credit and Consumer Reporting Complaints

Foley & Lardner LLP on

On January 3, 2023, the Consumer Financial Protection Bureau (CFPB) issued its annual report of credit and consumer reporting complaints. The report contains a thorough analysis of how the nationwide consumer reporting...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Credit Reporting

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2022 applicable to the credit reporting industry. Credit reporting remains a high priority for the CFPB, as credit reporting impacts consumers in a number of...more

Ballard Spahr LLP

CFPB annual report on consumer complaints about “Big 3” consumer reporting agencies flags concerns with use of automated processes

Ballard Spahr LLP on

The CFPB has issued its “Annual report of credit and consumer reporting complaints” that reports on consumer complaints submitted to the CFPB regarding the three largest nationwide consumer reporting agencies (NCRAs)—Equifax,...more

53 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide