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Fair Credit Reporting Act (FCRA) Financial Institutions Credit Reporting Agencies

Holland & Knight LLP

New Jersey Financial Services Legislative Update

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This alert is part of Holland & Knight's Garden State Initiative, a firmwide effort to enhance coordination among attorneys, clients and professional networks with ties to New Jersey to foster greater collaboration across...more

Wilson Sonsini Goodrich & Rosati

CFPB Issues Proposed Rule to Cover Data Brokers Under the Fair Credit Reporting Act

On December 3, 2024, the Consumer Financial Protection Bureau (CFPB) announced its highly anticipated and controversial proposed rule that primarily aims to bring data brokers within the scope of the Fair Credit Reporting Act...more

Cadwalader, Wickersham & Taft LLP

The CFPB's Race Against the Clock

While many Federal agencies, including the prudential bank regulators, have decided to hold back moving forward with initiatives until after the inauguration in January, the Consumer Financial Protection Bureau ("CFPB") has...more

Troutman Pepper Locke

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

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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

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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

Troutman Pepper Locke

The 7 Most Notable FCRA Cases of 2023 So Far

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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...

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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

Brownstein Hyatt Farber Schreck

Industry Groups Weigh in Before the U.S. Supreme Court on FCRA Preemption Issue

Multiple financial services industry trade associations submitted arguments to the U.S. Supreme Court this week supporting the Consumer Data Industry Association’s (“CDIA”) petition for review of whether the Fair Credit...more

Balch & Bingham LLP

Credit Reporting and COVID-19: CFPB Provides Flexibility to Financial Institutions

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On April 1st, the Consumer Financial Protection Bureau (“CFPB”) released a policy statement setting forth financial institutions’ obligations during the COVID-19 pandemic. In addition to providing clarity regarding the...more

Womble Bond Dickinson

Using FCRA’s Expansiveness as a Shield: CFPB Gets Pushback on FCRA Subpoena

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The expansiveness of FCRA has long been used by plaintiffs as a sword against consumer reporting agencies, furnishers of consumer information, and users of consumer information. Here, a company successfully used FCRA as a...more

Hinshaw & Culbertson LLP

Governor Cuomo Mandates Compliance by Credit Reporting Agencies with Sweeping New Cybersecurity Requirements

New York Governor Andrew Cuomo has issued a final regulation that requires credit reporting agencies doing business in New York to register annually with the Department of Financial Services (DFS) and also to comply with...more

Goodwin

Financial Services Weekly News - August 2017 #2

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Editor's Note - In This Issue. The Consumer Financial Protection Bureau (CFPB) released prototypes of “Know Before You Owe” overdraft disclosure forms and provided an updated rulemaking agenda for 2017; the Federal Reserve...more

Ballard Spahr LLP

CFBP Releases Special Edition of its Supervisory Highlights Focusing on Consumer Reporting

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The CFPB recently released a “Special Edition” of its Supervisory Highlights that focuses exclusively on data accuracy issues in consumer credit reporting and the handling and resolution of consumer disputes. The report...more

Arnall Golden Gregory LLP

Registration Requirement for CRAs in Rhode Island

Rhode Island has a quirky statute that arguably requires any consumer reporting agency who provides credit reports or information to state residents to register with the Department of State – Business Services Division. I...more

Goodwin

CFPB Issues Guidance, and a Warning, to Institutions Reporting to Specialty CRAs

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On February 3, 2016, in conjunction with a Field Hearing held the same day concerning deposit accounts, the Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin on the duties of furnishers of information...more

Ballard Spahr LLP

Flurry of FCRA Complaints Recently Filed in Nevada Courts

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Approximately 50 cases have been filed recently in Nevada state and federal courts against furnishers of information and credit reporting agencies (CRAs) for alleged Fair Credit Reporting Act (FCRA) violations. It appears...more

Robinson+Cole Data Privacy + Security Insider

Auto dealer settles with FTC for violations of the Fair Credit Reporting Act

Tricolor Auto Acceptance (Tricolor), a Texas based auto dealer has agreed to settle with the Federal Trade Commission (FTC) for violations of the Fair Credit Reporting Act (FCRA). Tricolor will pay the FTC $82,777 in...more

Williams Mullen

2014 Survey Of Class Action Cases In Virginia: The Statistics

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In Virginia, class action lawsuits are not permitted in state court. This limitation, however, does not mean that companies doing business in Virginia are not defending class action lawsuits in Virginia....more

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