Written By ESR News Blog Editor Thomas Ahearn
Lawsuits involving the federal Fair Credit Reporting Act (FCRA) increased by nearly 35 percent in June 2016 over May 2016, according to the latest Debt Collection Litigation and Consumer Financial Protection Board (CFPB) Complaint Statistics Report from WebRecon LLC.
The Debt Collection Litigation and CFPB Complaint Statistics Report for June 2016 revealed that 409 FCRA lawsuits were filed from June 1, 2016 to June 30, 2016, while 304 FCRA lawsuits were filed from May 1, 2016 to May 31, 2016, a robust gain of 34.5 percent.
The report from WebRecon LLC found that FCRA court filings were up a strong 33.7 percent over the same period in June 2015, as 304 FCRA lawsuits were filed from June 1, 2015 to June 31, 2015, compared to the 409 FCRA lawsuits filed in June 2016.
FCRA court filings were also up an impressive 27.6 percent over the year to date period in 2015, with 1960 FCRA lawsuits being filed from January through June in 2016 compared to 1536 FCRA lawsuits being filed from January through June in 2015.
In addition, out of the 409 FCRA lawsuits filed in June 2016, only 16 – or 3.9 percent – were “Class Action” lawsuits. The complete report from WebRecon LLC is available at http://webrecon.com/back-on-track-debt-collection-litigation-cfpb-complaint-stats-june-2016/.
Enacted in 1970, the FCRA (15 USC § 1681 et seq) promotes the accuracy, fairness, and privacy of consumer information contained in the files of Consumer Reporting Agencies (CRAs) as well as regulates the collection, dissemination, and use of that information.
More Information about the FCRA from ESR
Employment Screening Resources® (ESR) – a global provider of fast, accurate, affordable, and compliant background checks – has more ESR News blogs about the Fair Credit Reporting Act (FCRA) at www.esrcheck.com/wordpress/tag/fair-credit-reporting-act-fcra/.
A complimentary whitepaper titled “Common Ways Prospective or Current Employees Sue Employers Under the FCRA” written by ESR founder and CEO Attorney Lester Rosen is available at www.esrcheck.com/Whitepapers/Ways-Employees-Sue-Employers-Under-FCRA/.
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