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Credit Reporting Agencies

Troutman Pepper Locke

March 2025 Consumer Litigation Filings: Everything Up

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), the Telephone Consumer Protection Act (TCPA), and complaints filed with the...more

Orrick, Herrington & Sutcliffe LLP

Seventh Circuit reverses lower court’s FDCPA case, holding plaintiff lacked standing

On March 21, the U.S. Court of Appeals for the Seventh Circuit reversed a district court judgment in a case involving statutory damages under the FDCPA for lack of injury. The court asserted that statutory damages alone do...more

Troutman Pepper Locke

2024 Credit Reporting Review: Impactful Changes and Future Forecast — FCRA Focus Podcast

Troutman Pepper Locke on

In this episode of FCRA Focus, host Dave Gettings is joined by Cindy Hanson, Scott Kelly, and Tim St. George, partners in Troutman Pepper Locke’s Consumer Financial Services Practice Group, to discuss the most impactful...more

Ballard Spahr LLP

Republican Senators seek to use CRA to void medical debt rule

Ballard Spahr LLP on

Republican senators have introduced a Congressional Review Act resolution to nullify the rule that bans banks and credit unions from including medical debt on credit reports and generally prohibits the use of medical...more

Goodwin

2024 Year in Review: Credit Reporting

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In 2024, Goodwin tracked four public enforcement actions related to credit reporting or credit repair services, consistent with the four actions tracked in 2023. Between 2017 and 2024, there were an average of four actions...more

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

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses credit reporting enforcement action voluntarily

On February 28, the CFPB filed a joint stipulation of voluntary dismissal with prejudice in the U.S. District Court for the Northern District of Illinois, ending an enforcement action against a credit reporting agency, two...more

Orrick, Herrington & Sutcliffe LLP

CFPB levies $12.8M against auto financer for Covid-19 and other alleged credit reporting failures

On January 17, the CFPB issued a consent order and stipulation against an auto finance company for alleged violations of the FCRA, Regulation V and the CFPA. The Bureau alleged that, from 2019 through 2024, the company...more

Orrick, Herrington & Sutcliffe LLP

CFPB announces agreement with data broker subsidiary on a voluntary three-year government contract ban

On January 21, the CFPB announced that a data broker and credit reporting subsidiary of a credit reporting conglomerate has agreed not to seek government contracts with the CFPB for three years to avoid further actions by the...more

Orrick, Herrington & Sutcliffe LLP

CFPB fines credit reporting agency $15M for alleged violations

On January 17, the CFPB issued a consent order settling allegations that a consumer reporting agency (CRA) violated the FCRA and engaged in unfair acts and practices, violating the CFPA. The CFPB imposed a $15 million civil...more

A&O Shearman

UK Financial Conduct Authority portfolio letter for credit reference agencies and credit information service providers

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The U.K. Financial Conduct Authority published a portfolio letter setting out its supervisory strategy for credit reference agencies and credit information service providers. In the letter, the FCA sets out its priority areas...more

Orrick, Herrington & Sutcliffe LLP

New York AG obtains $725K settlement from CRA for inaccurate credit score reporting due to coding error

On January 14, the Attorney General of New York published an assurance of discontinuance between itself and a credit reporting agency resolving an investigation related to an alleged coding error that caused the credit...more

Goodwin

CFPB Sues Consumer Reporting Agency Regarding Investigations of Consumer Disputes

Goodwin on

​​​​​​​On January 7, 2025, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint against a nationwide consumer reporting agency (“Agency”) under the Fair Credit Reporting Act (“FCRA”) and the Consumer Financial...more

Sheppard Mullin Richter & Hampton LLP

CFPB Orders Credit Reporting Agency to Pay $15 Million for Mishandling Consumer Disputes

On January 17, 2025, the CFPB issued a consent order against a large consumer reporting agency for failing to properly investigate consumer disputes concerning inaccurate information on consumers’ credit reports. The CFPB...more

Orrick, Herrington & Sutcliffe LLP

CFPB finalizes rule to remove medical bills from credit reports and prohibit lenders from considering medical information

On January 7, the CFPB issued a final rule amending Regulation V. Among other things, the final rule prohibits credit reporting companies from including medical bills on credit reports sent to lenders and prohibits lenders...more

Orrick, Herrington & Sutcliffe LLP

CFPB files complaint against CRA, alleging faulty dispute resolution procedures

On January 7, the CFPB filed a complaint against a consumer reporting agency, alleging violations of the FCRA and the CFPA’s prohibition on unfair acts or practices. The complaint alleges the company failed meet its...more

Sheppard Mullin Richter & Hampton LLP

CFPB Alleges Credit Reporting Agency Conducted Sham Investigations of Errors

On January 7, 2025, the CFPB filed a lawsuit against a nationwide consumer reporting agency for violations of the Fair Credit Reporting Act. The lawsuit claims the company’s investigation of consumer disputes was inadequate,...more

Cozen O'Connor

CFPB Finalizes Rule to Limit Impact of Medical Debt on Credit Reporting

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The CFPB has finalized a rule amending regulations under the Fair Credit Reporting Act to address the use and reporting of medical information in credit decisions. The Prohibition on Creditors and Consumer Reporting Agencies...more

McGlinchey Stafford

Litigation Byte (December Edition)

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Delivered in digestible, insightful bites, McGlinchey’s Litigation Byte is a monthly roundup of financial services decisions and cases nationwide that impact your business....more

McGlinchey Stafford

EDNY: Failure to State a Claim Under the FCRA Dooms a Related Claim under the NYFCRA

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On December 16, 2024, the United States District Court for the Eastern District of New York dismissed claims against a credit reporting agency for violations of the Fair Credit Reporting Act (FCRA) and joined the United...more

Arnall Golden Gregory LLP

CFPB Proposed FCRA Rulemaking Could Significantly Expand FCRA Coverage and Restrict Access to Information

The Consumer Financial Protection Bureau (“CFPB”) has published a Notice of Proposed Rulemaking (“NPRM”) titled “Protecting Americans From Harmful Data Broker Practices” 89 Fed. Reg. 101402 (Dec. 13, 2024). If adopted in its...more

McGlinchey Stafford

Judgment on the Pleadings Granted Due to Insufficient Pleading of FCRA Violations

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Alert December 30, 2024 The United States District Court for the District of Maryland granted a defendant’s motion for judgment on the pleadings in a case arising under the Fair Credit Reporting Act (FCRA) due to an alleged...more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2024

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Following our annual tradition — which started over a decade ago — we are analyzing the year's 10 most significant whistleblower and retaliation events. As you'll see, in 2024, actions taken by a range of courts and...more

McGlinchey Stafford

Standing Requirements Under FCRA Clarified by Second Circuit

McGlinchey Stafford on

On December 6, 2024, federal courts in the United States Second Circuit issued a pair of decisions clarifying that borrowers must identify a concrete injury caused by the dissemination of inaccurate information to establish...more

Orrick, Herrington & Sutcliffe LLP

CFPB seeks comment on ANPR to amend Regulation V

On December 9, the CFPB issued an advance notice of proposed rulemaking (ANPR) to request public comment on potential amendments to Regulation V, which implements the FCRA. As described by the CFPB, the ANPR would address...more

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