On November 16, the United States District Court for the Southern District of California granted final approval of a $1.2 million Fair Credit Reporting Act class action settlement against Petco Animal Supplies, Inc.
As we previously reported, a putative class action was filed against Petco in June 2016, challenging the company’s form of disclosure
On November 15, Senators Marco Rubio (R-Fla.) and John Kennedy (R-La.) announced the Small Business Credit Protection Act – proposed legislation that would require consumer reporting agencies to inform small businesses of a nonpublic personal data breach within 30 days of the breach. If passed, the SBCPA also would prohibit credit bureaus from charging small
In an ominous sign, Americans’ total debt hit another record high, rising to $13.5 trillion in the last quarter, as student loan delinquencies jumped, according to Reuters. Specifically, flows of student debt into serious delinquency – of 90 or more days – rose to 9.1 percent in the third quarter from 8.6 percent in
As Congress’ emboldened majority has sought to lessen the federal government’s regulatory footprint, the states have not always been quiet, as one summertime example amply shows.
In 2017, two congressmen introduced two bills which, if enacted, would expand the scope of federal preemption to include non-bank entities. Introduced by Rep. Patrick McHenry (R-N.C.), the
On November 16, Sen. John Thune (R-S.D.), the current chairman of the Senate Commerce Committee, and Ed Markey (D-Mass.), a member of the committee and the author of the Telephone Consumer Protection Act, unveiled the Telephone Robocall Abuse Criminal Enforcement and Deterrence Act (“TRACED Act”). Among other things, this bill would require carriers to eventually
The Federal Trade Commission proposed a rule requiring consumer reporting agencies to provide free credit monitoring service to active duty military members that would electronically notify these consumers of “material” changes to their file within 24 hours. The deadline to submit comments on the proposed rule is January 7, 2019.
The proposed rule implements the
The states of most complaint, you ask? – California, Florida, Texas, New York, and Georgia.
In October, the Consumer Financial Protection Bureau released its Complaint Snapshot, which supplements the Consumer Response Annual Report and provides an overview of trends in consumer complaints received by the Bureau.
The Snapshot revealed that the CFPB has received 1.5
On October 26, the Eastern District of Wisconsin issued a ruling dismissing a Fair Credit Reporting Act case. In Garland v. Marine Credit Union, the Court granted summary judgment in favor of the debt collector, holding the dispute was a legal issue such that the consumer could not establish a factual inaccuracy in the
The Court in Patterson v. Peterson Enterprises, Inc., No. 2:18-cv-161-RMP (E.D. Wash. Oct. 23, 2018) recently denied a motion to dismiss seeking dismissal of a Fair Debt Collection Practices Act (“FDCPA”) claim due to the consumer plaintiff’s assertions that counterclaims in a previous collections lawsuit indicated that a debt was being disputed. The Court
How the FCRA Accurate Reporting Requirement Interacts with Temporary Forbearance Plans
This past summer, the United States Court of Appeals for the Eleventh Circuit evaluated a $25-per-month mortgage forbearance plan and concluded that reporting the borrower as delinquent despite her forbearance payments was accurate and not materially misleading.