In a recent decision, a Michigan district court found that because there was a genuine issue of fact as to whether the defendant debt collector notified the consumer reporting agency (CRA) to remove a disputed debt notification from the plaintiff’s tradeline, the case could proceed to trial.
The Middle District of Florida rounded out 2022 by ruling in conformance with Eleventh Circuit precedent that plaintiffs must have a factual, rather than legal, dispute to bring suit against a credit furnisher under §1681s-2b of the Fair Credit Reporting Act (FCRA).
In Belair v. Holiday Inn Club Vacations Inc., the plaintiffs contracted to
As discussed here, on October 27, 2022, the CFPB released an Outline of Proposals and Alternatives Under Consideration for public comments on the CFPB’s Section 1033 rulemaking. The window for providing written feedback closed on January 25, 2023. Below we have highlighted some of the submissions by industry and consumer groups.
The proposed rules
On January 20, Representative Steve Cohen (D-Tenn) introduced the Keeping Evictions Off Credit Reports Act, H.R. 408, in the U.S. House of Representatives seeking to prohibit evictions due to the COVID-19 pandemic from appearing on consumer reports. This is the third time that Representative Cohen has proposed this legislation. Representatives Bennie Thompson (D-MS), Yvette
On January 4, the Consumer Financial Protection Bureau (CFPB) issued its 2022 Fall Rulemaking Agenda containing pre-rule, proposed rule, and final rules under consideration. The CFPB releases regulatory agendas twice a year in voluntary conjunction with a broader initiative led by the Office of Budget and Management to publish a Unified Agenda of Regulatory and Deregulatory actions across the federal government. In the preamble to the Federal Register notice, the CFPB states that the information is current as of September 30, 2022 and identifies regulatory matters the CFPB “reasonably anticipates” having under consideration during the period from December 1, 2022, to November 30, 2023. The CFPB has not yet posted a blog or issued a press release about the agenda.
Should credit reporting agencies (CRAs) be held liable under the Fair Credit Reporting Act (FCRA) for alleged reporting inaccuracies that turn on legal disputes? According to the Second Circuit in a recent decision, the answer is no. The appellate court held the “FCRA does not require” CRAs to “resolve unsettled legal questions.” However, the
On January 3, the Consumer Financial Protection Bureau (CFPB) released its annual report detailing what it characterized as “improvements and deficiencies” in the nationwide consumer reporting agencies’ (NCRAs) responses to complaints. The Fair Credit Reporting Act (FCRA) requires the CFPB to submit this annual report to Congress. While in last year’s report, the CFPB said
On December 15, 2022, the parties in TransUnion LLC v. Ramirez — a case that went all the way to the Supreme Court in 2021 to resolve questions of Article III standing — obtained final approval of their class settlement agreement. The settlement resolved claims brought under the Fair Credit Reporting Act (FCRA) alleging that
On November 15, the Consumer Financial Protection Bureau (CFPB) issued two reports, highlighting what the CFPB perceives to be forms of errors that frequently occur in tenant background checks and the impacts the CFPB believes that those errors can have on potential renters.
The “Tenant Background Check Markets Report” (Market Report) provides a
On November 16, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report, focusing on the auto servicing industry, consumer reporting, mortgage servicing, and COVID-19 relief funds. The report highlights the CFPB’s continued focus on so-called junk fees and inaccurate credit reporting.
Among other findings from the report, the CFPB says that: