In an update to an article we published earlier this week regarding the three major credit reporting agencies Equifax, Experian and TransUnion issuing a joint statement last week regarding how medical debt will be treated and reported on consumer credit reports, those agencies provided further clarification to data furnishers on March 22.
Posts tagged as “credit reporting”
In a year that is still quite young, medical debt continues to find its way into the headlines of the receivables management industry. Continuing the trend, this past Friday, March 18, saw the three major credit reporting agencies Equifax, Experian and TransUnion issue a joint statement regarding how medical debt will be treated and reported on consumer credit reports.
The U.S. Court of Appeals for the Ninth Circuit recently affirmed a trial court's grant of summary judgment in favor of a credit reporting agency, holding that the plaintiff consumer failed to present sufficient evidence that the agency violated the federal Fair Credit Reporting Act willfully or negligently, as required for liability.
On June 25, 2021, the Supreme Court of the United States held that a plaintiff must suffer a concrete injury resulting from a defendant’s statutory violation to have Article III standing to pursue damages from that defendant in federal court. The Court also held that plaintiffs in a class action must prove that every class member has standing for each claim asserted and for each form of relief sought.
The U.S. Court of Appeals for the Second Circuit recently affirmed a trial court’s judgment in favor of a consumer reporting agency (CRA).
The U.S. Court of Appeals for the Ninth Circuit recently affirmed entry of summary judgment in favor of a mortgage servicer against claims brought by plaintiff homeowners that obtaining their credit reports after their mortgage loans had been discharged in bankruptcy willfully violated the federal Fair Credit Reporting Act.
The U.S. Court of Appeals for the Ninth Circuit recently affirmed a trial court’s order compelling arbitration, holding that a single website visit by a consumer long after she entered into a contract with a credit reporting agency (CRA) that contained a change-of-terms provision did not bind the parties to changed terms in the updated contract, including exempting some claims from binding arbitration, because the consumer did not allege that she was aware of the changed terms as required to assent to the new terms.
Agreeing with similar rulings in the First, Ninth, and Tenth Circuits, the U.S. Court of Appeals for the Seventh Circuit recently held that the Fair Credit Reporting Act does not require consumer reporting agencies to determine the legal validity of disputed debts.
The Court of Appeal for the State of California, Fourth Appellate District, recently held that a trial court improperly denied a consumer’s motion to compel an answer to the consumer's special interrogatory, as the interrogatory was relevant to create a reasonable inference which would have defeated a lender’s motion for summary judgment.
On April 1, the CFPB issued a policy statement addressing the responsibility of furnishers under the CARES Act and describing the flexible approach the Bureau intends to take with respect to supervision and enforcement of the FCRA and Regulation V during the COVID-19 pandemic.