Troutman Sanders

FEBRUARY 28, 2022

The filing lawsuits under the Fair Debt Collection Practices Act (FDCPA), the Fair Credit Reporting Act (FCRA), and the Telephone Consumer Protection Act (TCPA) increased dramatically in the first month of 2022 when compared to the number of filings in January and December 2021, per a report released recently by Web Recon LLC.

Fair Debt Collection 98

Fair Debt Collection Collections 98

Troutman Sanders

MARCH 13, 2024

CRS’s report shows that in fiscal year 2023, credit reporting ranked as the most common product category about which consumers complained, comprising 80.5% of all complaints. These three types of complaints alone made up 80.3% of all complaints received by the CFPB during fiscal year 2023.

Collections 52

Collections 52

Troutman Sanders

AUGUST 25, 2020

Fair Credit Reporting Act (“FCRA”) plaintiffs learned a hard lesson in procedure recently when the Second Circuit Court of Appeals affirmed the dismissal of their claim because they (presumably) failed to follow the notification process required by 15 U.S.C. Plaintiffs failed, however, to specify which provision of FCRA supported their claim.

Banks 52

Banks 52

Troutman Sanders

NOVEMBER 4, 2021

The Fair Credit Reporting Act (FCRA) allows consumers to file a dispute with a credit reporting agency (CRA) if they believe an inaccuracy exists on their credit report. The FCRA then requires the CRA to conduct a reasonable investigation and correct any inaccuracies discovered as a result of its investigation.

Student loans 59

Student loans Student Loans Retail Loans 59

Troutman Sanders

NOVEMBER 21, 2023

On November 15, the CFPB’s Fair Credit Reporting Act (FCRA) Disclosures rule was published in the Federal Register. The CFPB’s rule amends an appendix for Regulation V, which implements the FCRA. The maximum allowable charge will be $15.50 For more information, click here.

Financial services 52

Financial services Retail Banks Collections 52

Troutman Sanders

OCTOBER 25, 2023

Third parties that are data aggregators transmitting consumer-authorized data to end users for permissible purposes under the Fair Credit Reporting Act (FCRA), such as for underwriting loans, are considered consumer reporting agencies. It is still unclear how this rulemaking will overlap with the CFPB FCRA rulemaking.

Banks 52

Banks Financial Institution Credit Unions Credit Unions 52

Troutman Sanders

JUNE 25, 2021

Accordingly, the vast majority of the absent class members who could not prove that allegedly inaccurate credit reports were disseminated to any third party did not have standing to assert a claim under the Fair Credit Reporting Act (FCRA). Ramirez filed a class action suit in California under the FCRA. Background.

Legal Rights 59

Legal Rights 59