The Federal Reserve Board of Governors and the Federal Deposit Insurance Corporation (“FDIC”) issued a joint advisory making financial institutions aware of a recent change to the Fair Credit Reporting Act (“FCRA”) that provides that financial institutions may offer to remove defaults in private education loan borrowers’ consumer reports under an approved rehabilitation program.
The Seventh Circuit recently affirmed judgment in favor of the national consumer reporting agencies (“CRAs”), rejecting a plaintiff’s attempt to impose Fair Credit Reporting Act liability upon the CRAs for reporting information the furnisher had verified as accurate. This case represents a significant victory for CRAs facing collateral attacks of the
On January 28, Thomas W. Thrash, Jr., the Chief Judge of the United States District Court for the Northern District of Georgia, issued four decisions on motions to dismiss in cases arising out of the Equifax data breach. Below are a few noteworthy takeaways.
Factual Background
From mid-May through the end of July 2017, hackers
2018 was a busy year in the consumer financial services world. As we navigate the continuing heavy volume of regulatory change and forthcoming developments from the Trump administration, Troutman Sanders is uniquely positioned to help its clients successfully resolve problems and stay ahead of the compliance curve.
In this report, we share developments on
On January 16, the U.S. District Court for the Eastern District of Michigan denied a motion to dismiss a plaintiff’s Fair Credit Reporting Act claims on statute of limitations grounds, taking a strict interpretation of the complaint’s allegations as to the plaintiff’s discovery of facts underlying her claims. A copy of the decision in Blake
Since the Spokeo, Inc. v. Robins decision in 2016, many defendants have worried that a valid standing argument could have the actual impact of leading to more cases being litigated in state court rather than outright dismissals on the merits.
This month’s ruling in Ratliff v. LTI Trucking Services, Inc. proved to be exactly the
A recent case out of the U.S. District Court in Arizona has shown that it is not easy for a defendant to recover attorneys’ fees under the “bad faith” provision of the Fair Credit Reporting Act.
In Perri v. Diversified Adjustment Serv., 2018 U.S. Dist. LEXIS 213612 (D. Ari
Who should decide the “gateway” issue of arbitrability? That is, should a court or an arbitrator decide whether a particular issue is subject to arbitration? According to the Fourth Circuit, it depends on the agreement to arbitrate.
On January 4, the Fourth Circuit issued an opinion in Novic v. Credit One, No. 17-2168,
On Oct. 4, 2018, in Smith v. Mutual of Omaha Insurance Company,[1] the United States District Court for the Southern District of Iowa ruled the plaintiff could not advance his putative class action under the Fair Credit Reporting Act if he qualified as an independent contractor rather than an employee. The decision presents another helpful
The Northern District of California recently held that medical records are not discoverable in Fair Credit Reporting Act cases when a plaintiff only generally alleges that he or she suffered emotional harm. In Prado v. Equifax Information Services, LLC, the plaintiff claimed Equifax mixed up her credit report with that of her sister,