Written By ESR News Blog Editor Thomas Ahearn
Statistics tracked by WebRecon LLC revealed consumer ligation filed under the Fair Credit Reporting Act (FCRA) decreased by 13.3 percent in July 2021, although FCRA filings year-to-date (YTD) from January through July 2021 increased by 6.5 percent compared to January through July 2020, according to WebRecon’s July 2021 report.
“It looks like lots of consumers went to the beach instead of the courthouse last month,” WebRecon Chief Executive Officer (CEO) Jack Gordon noted in the report, which found FCRA filings increased from 3,006 to 3,201 YTD from 2020 to 2021 and putative class actions represented 4.6 percent of FCRA lawsuits filed in July 2021.
In addition, the Webcon report revealed that complaints to the Consumer Financial Protection Bureau (CFPB) – a United States government agency that helps to enforce the FCRA – increased 38.2 percent YTD from 2020 to 2021, and there was a 3.5 percent increase from June to July 2021, or 6,613 to 6,845 respectively.
The FCRA was enacted by Congress in 1970 to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies (CRAs), and to protect consumers from the willful and/or negligent inclusion of inaccurate information in their consumer reports, including credit reports.
Employment Screening Resources® (ESR) – a leading global background check provider that was ranked the #1 screening firm by HRO Today in 2020 – offers employers FCRA compliant background screening services to help them make informed hiring decisions. To learn more about ESR, visit www.esrcheck.com.
NOTE: Employment Screening Resources® (ESR) does not provide or offer legal services or legal advice of any kind or nature. Any information on this website is for educational purposes only.
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