Tag Archives: credit reports

Congress Considers FCRA Liability Harmonization Act to Amend Fair Credit Reporting Act to Limit Damages in Class Action Lawsuits

FCRA-graphic

Written By ESR News Blog Editor Thomas Ahearn

On September 7, 2017 – ironically the same day nationwide credit reporting agency Equifax announced it had suffered a massive data breach – Congress held a hearing entitled “Legislative Proposals for a More Efficient Federal Financial Regulatory Regime” to consider six proposals including one called “The FCRA Liability Harmonization Act” (H.R. 2359) that would amend the Fair Credit Reporting Act (FCRA) to limit damages related to class action lawsuits filed under the FCRA. Continue reading

Some Common Job Applicant Fears about Background Checks Unfounded

RecruitingHiring

Written By ESR News Blog Editor Thomas Ahearn

To help calm nerves job applicants have about background checks done by employers,  an article on job website Monster.com – “Employment background check guide for job applicants” – compared common fears against the facts and featured background check experts such as Dawn Standerwick, Chair of the Board of Directors at the National Association of Professional Background Screeners (NAPBS). Continue reading

Consumer Files Lawsuit Claiming Credit Reporting Agencies Failed to Remove Dispute Language from Credit Report

Credit-Reports

Written By ESR News Blog Editor Thomas Ahearn

On May 23, 2017, a consumer filed a complaint in the U.S. District Court for the Western District of Louisiana against two of the three major credit reporting agencies claiming “she was damaged because her credit report was not updated per her request,” according to a report from the Louisiana Record. Continue reading

Appeals Court Finds No Concrete Injury in FCRA Lawsuit Over Incorrect Information on Credit Report

credit-reports

Written By ESR News Blog Editor Thomas Ahearn

On May 11, 2017, the U.S. Court of Appeals for the Fourth Circuit decided in Dreher v. Experian Information Solutions, Inc., et al that the plaintiff’s claim that Experian violated the federal Fair Credit Reporting Act (FCRA) by listing a defunct company on his credit report – thus denying him access to information to which he was entitled – failed to establish a “concrete injury” under Article III of the U.S. Constitution. Continue reading

Lawsuit Claims Three Credit Reporting Agencies Allegedly Violated FCRA by Reporting Old Debt

 FCRA-graphic

Written By ESR News Blog Editor Thomas Ahearn

An Illinois woman has filed a lawsuit filed against the three major nationwide credit reporting agencies – Equifax, Experian, and TransUnion – claiming that they allegedly violated the federal Fair Credit Reporting Act (FCRA) by failing to observe her bankruptcy and reporting discharged debt, according to a report by the Madison-St. Clair Record. Continue reading

Three Major Credit Reporting Agencies to Implement Enhanced Public Record Data Standards on July 1

 credit-score

Written By ESR News Blog Editor Thomas Ahearn

Three major national credit reporting agencies in the United States – Equifax, Experian, and TransUnion – will implement enhanced public record data standards for consumer credit reports beginning on July 1, 2017, according to a statement from the Consumer Data Industry Association (CDIA). Continue reading

CFPB Fines Credit Reporting Agency $3 Million for Deceiving Consumers about Credit Scores

 credit-score

Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has ordered one of the nation’s three largest credit reporting agencies, Experian, to pay a civil penalty of $3 million for deceiving consumers about the use of credit scores it sold to them, according to a report on the CFPB website. Continue reading

CFPB Releases Report Detailing Problems in Credit Reporting Industry

 CFPB logo spotlight

Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has released a special report that details the problems in the credit reporting industry that the CFPB has uncovered and corrected through oversight work and outlines actions the CFPB has taken to address these problems such as fixing data accuracy at credit reporting companies, repairing the broken dispute process, and cleaning up information being reported. Continue reading

CFPB Monthly Complaint Report for February Highlights Complaints about Credit Reports

CFPB-Credit-Reports

Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has released the Monthly Complaint Report for February 2017 that highlights consumer complaints about credit reports and shows how consumers continue to report struggling to resolve errors on their credit reports. The report is at http://files.consumerfinance.gov/f/documents/201702_cfpb_Monthly-Complaint-Report.pdf. Continue reading

District of Columbia Council Passes Fair Credit in Employment Amendment Act to Ban Credit Checks by Employers

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

The Council for the District of Columbia (D.C.) has passed the “Fair Credit in Employment Amendment Act” (Bill 21-244) to amend the Human Rights Act of 1977 and prohibit employers from taking discriminatory action against job applicants and current employees based on their credit report information. Continue reading