Consumer Financial Services Law Blog
Dykema Gossett PLLC
Dykema Gossett PLLC

Consumer Financial Services Law Blog

Consumer Financial Services Law Blog

News and analysis regarding Consumer Financial Services litigation and regulation, and activities of the Consumer Financial Protection Bureau

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Showing 8 posts in Fair Credit Reporting Act.

Spokeo’s Impact (So Far) on FDCPA Claims

Last week, Dykema’s Consumer Financial Services Law Blog discussed in detail the Supreme Court’s decision in Spokeo v. Robins, 136 S. Ct. 1540 (2016). In anticipation of that decision, district courts across the country issued stays pending guidance from the Supreme Court on one key issue: “Whether Congress may confer Article III standing upon a plaintiff who suffers no concrete harm, and who therefore could not otherwise invoke the jurisdiction of a federal court, by authorizing a private right of action based on a bare violation of a federal statute.” Read More ›

Spokeo v. Robins: Supreme Court Requires Concrete and Particularized Injury Before Consumers Can Sue Under Federal Statutes, Giving Financial Services Providers an Additional Defense

The United States Supreme Court held earlier this year in Spokeo v. Robins that to maintain Article III standing, a plaintiff must allege an injury-in-fact that was both concrete and particularized. Spokeo, Inc. v. Robins, 136 S. Ct. 1540, 1542 (2016). This requirement of requiring an injury to actually exist has the potential to eliminate spurious suits from plaintiffs based on alleged federal statutory violations, including particularly alleged violations of federal statutes related to consumer financial services. Read More ›

Supreme Court to Tackle Pressing Questions Regarding Lawsuits Under the Fair Credit Reporting Act

Spokeo, Inc. v. Robins, a case pending before the Supreme Court, presents several important questions concerning the scope and reach of the Fair Credit Reporting Act (FCRA). The Court must consider whether a consumer can sue if inaccurate information about him is published, even if he suffers no real-world harm from the publication. The consequences of the Court’s answer may be far-reaching, particularly to companies that provide consumer credit reports. Read More ›

Supreme Court Grants Certiorari to Address Article III Standing Issue in Cases with No Concrete Harm

The Supreme Court has granted certiorari in Spokeo Inc. v. Robins, No. 13-1339 (U.S. Apr. 27, 2015), a case that presents an important question which could have a significant impact on consumer class actions. The Court will address whether Congress can confer Article III standing on a plaintiff who suffers no concrete harm, by authorizing a private right of action based on a bare violation of a federal statute. In granting certiorari, the Supreme Court rejected the Solicitor General’s recommendation to either deny certiorari or to narrowly focus on the specifically alleged injury and statute at issue in the case.  Read More ›

Top Democrat on the House Financial Services Committee Proposes Sweeping Changes to Fair Credit Reporting Act

U.S. Representative Maxine Waters (D-Cal), the top Democrat on the Republican led House Financial Services Committee, proposed a bill on September 10, 2014 to change many key provisions of the Fair Credit Reporting Act (FCRA) regulating the way lenders report consumer payments to credit reporting agencies.  The bill, entitled the “Fair Credit Reporting Improvement Act of 2014”, proposes the most sweeping changes to the FCRA since it was passed in 1970, and would affect consumer reporting agencies, consumers, lenders, employers and furnishers of credit information. Read More ›

Seventh Circuit Rules Federal Government Not Immune from Fair Credit Reporting Act Claims

In a decision issued Tuesday, July 23, 2014, the Seventh Circuit ruled that the federal government does not enjoy immunity from Fair Credit Reporting Act related damages.  Although Bormes v. U.S., No. 13-1602 (7th Cir. July 22, 2014), a class-action suit, was ultimately dismissed on other grounds, the decision stands as the first appellate case to address the issue of whether government immunity is a defense to FCRA claims. Read More ›

CFPB Presents Annual Fair Lending Report to Congress

On April 30, the Consumer Financial Protection Bureau (the CFPB) presented its annual Fair Lending Report to Congress.  The Fair Lending Report details the CFPB’s actions and initiatives during 2013. In particular, the Report reveals how the CFPB makes enforcement decisions and includes examples of several of the CFPB’s enforcement actions from past year.  Read More ›

Ninth Circuit Holds: No Actual Harm Required for Standing Under FCRA

On February 4, 2014, the Ninth Circuit Court of Appeals held that a plaintiff could bring a lawsuit under the Fair Credit Reporting Act (FCRA), even when the plaintiff did not allege that he or she had suffered any actual damages.  Read More ›