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Consumer Reporting Agencies

McGlinchey Stafford

Federal Court Finds Causation Lacking on Negligence Claim Under FCRA, But Leaves Door Open on Claim of Willful Violation

McGlinchey Stafford on

A federal Judge for the United States District Court for the District of Arizona recently granted in part and denied in part a consumer reporting agency’s motion for summary judgment, with respect to claims raised by the...more

Orrick, Herrington & Sutcliffe LLP

Tennessee Act extends consumer transaction cancellation period

On April 11, Tennessee enacted SB 816 (the “Act”), focusing on protecting consumers from consumer reporting agency practices. The primary change is the amendment of Section 47-18-2108(b), stating that “a consumer reporting...more

Ballard Spahr LLP

Legislation to prohibit ‘trigger leads’ in mortgage industry reintroduced in House, Senate

Ballard Spahr LLP on

Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate....more

Orrick, Herrington & Sutcliffe LLP

Consumer reporting amendments limit reportable information in Utah

On March 26, Utah enacted SB 70 (the “Act”), which limits the information consumer reporting agencies are allowed to provide. The Act prohibits consumer reporting agencies from reporting information related to arrests or...more

Orrick, Herrington & Sutcliffe LLP

Idaho enacts consumer privacy section for mortgage applications

On March 17, the Governor of Idaho signed into law HB 149 (the “Act”) enacting a new section titled “Consumer Privacy In Mortgage Applications” to the Idaho Residential Mortgage Practices Act. The Act addresses consumer...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 extends comment period on potential Regulation V amendments

On March 7, the CFPB announced a comment period extension for its advance NPRM addressing concerns related to information about coerced debt (i.e., where individuals are manipulated into incurring debt without their consent)...more

Orrick, Herrington & Sutcliffe LLP

District Court halts CFPB medical debt rule for 90 days

On February 6, the U.S. District Court in the Eastern District of Texas issued a 90-day stay of the upcoming March 17 effective date of the CFPB’s rule banning medical debt from appearing on credit reports. ...more

Hudson Cook, LLP

CFPB Bites of the Month - 2024 Annual Review - Debt Collection

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2024 applicable to debt collection practices. Like 2023, the theme of 2024 was medical debt collection....more

Troutman Pepper Locke

CFPB Updates List of Consumer Reporting Companies for 2025

Troutman Pepper Locke on

On January 30, the Consumer Financial Protection Bureau (CFPB or Bureau) released its updated list of consumer reporting companies for 2025. The list includes nationwide consumer reporting companies as well as several other...more

Orrick, Herrington & Sutcliffe LLP

CFPB supports states barring medical debt on credit reports

On January 28, the CFPB expressed support for legislative efforts in Massachusetts, Washington State, Oregon and South Dakota which prohibit furnishing medical debt information to a consumer credit reporting agency and...more

Troutman Pepper Locke

FCRA Regulatory Year in Review — FCRA Focus Podcast

Troutman Pepper Locke on

Join host Kim Phan and special guests David Anthony, Stefanie Jackman, and Mark Furletti as they delve into the significant Fair Credit Reporting Act (FCRA) developments of 2024 and provide insights on what to expect in 2025....more

Bradley Arant Boult Cummings LLP

Who Regulates Residential Mortgage Trigger Leads?

In a bit of a surprise development at the end of 2024, the United States Senate passed the Homebuyers Privacy Protection Act, which amends the Fair Credit Reporting Act (FCRA) to include specific restrictions on the use of...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The CFPB's Proposed Data Broker Rule

Ballard Spahr LLP on

In today's episode, we discuss the CFPB’s recent proposed data broker rule—a proposal that would greatly expand the reach of the Fair Credit Reporting Act. On December 3, the CFPB issued a proposed rule promoted as one that...more

Epstein Becker & Green

CFPB’s Recent Rule Eliminates Medical Debt from Credit Reports

Epstein Becker & Green on

On January 7, 2025, the Consumer Financial Protection Bureau (“CFPB”) published a final Rule (the “Rule”) that prohibits consumer reporting agencies from including individuals’ medical debt on consumer credit reports....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

Goodwin

New York Attorney General Reaches $725,000 Settlement with Credit Reporting Provider to Resolve Allegations of Inaccurate Credit...

Goodwin on

On January 14, 2025, New York Attorney General Letitia James announced that the state had entered into a settlement​ with a national credit reporting provider​ to resolve allegations that the provider had ​harmed consumers by...more

Troutman Pepper Locke

CFPB Releases Report Highlighting Consumer Use of Buy Now, Pay Later Products

Troutman Pepper Locke on

On January 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report providing its analysis of the growth and impact of Buy Now, Pay Later (BNPL) loans in the United States since 2019. BNPL loans,...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

Cooley LLP

CFPB Finalizes Rule Curbing Use and Reporting of Medical Debt

Cooley LLP on

On January 7, 2025, the Consumer Financial Protection Bureau (CFPB) issued a final rule that would generally prohibit lenders from considering medical debt information when determining a consumer’s eligibility for credit, and...more

Troutman Pepper Locke

Trade Associations File Challenge to CFPB’s Rule on Medical Debt in Consumer Reports

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) finalized a rule aimed at removing an estimated $49 billion in medical bills from the consumer reports of approximately 15 million Americans. This rule amends...more

Troutman Pepper Locke

CFPB Finalizes Rule to Remove Medical Bills from Consumer Reports

Troutman Pepper Locke on

On January 7, the Consumer Financial Protection Bureau (CFPB or Bureau) finalized its rule aimed at removing an estimated $49 billion in medical bills from the consumer reports of approximately 15 million Americans....more

Orrick, Herrington & Sutcliffe LLP

CFPB maintains 2025 FCRA disclosure charge at $15.50

On November 29, the CFPB announced in the Federal Register a final rule amending Regulation V (12 C.F.R. Part 1022), which implements the FCRA. The rule sets maximum allowable charge for consumer file disclosures at $15.50...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 53: Expanding the FCRA to Data Brokers

RegFi Co-Hosts Jerry Buckley, Sherry Safchuk and Sasha Leonhardt explore the implications of the CFPB’s recently proposed amendments to Regulation V that would apply the Fair Credit Reporting Act to data brokers. The...more

Mayer Brown

CFPB Releases Long-Awaited Proposed Amendments to Regulation V to Regulate Data Brokers

Mayer Brown on

On December 3, 2024, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) issued a proposed rule (the “Proposed Rule”) to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA). The Proposed...more

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