by Jeff Sovern Last week, the Wall Street Journal published a piece about the CFPB's public database of consumer complaints. This excerpt particularly caught my eye: The agency's approach rankles some in the financial industry who say the publication of complaints leads to an unfair and overly negative view of companies. They fault the CFPB […]
Category Archives: Credit Reporting
by Deepak Gupta We've blogged before about Mount Holly–the Supreme Court case about the future of disparate impact in housing and lending discrimination. (My firm represents current and former Members of Congress in the case). All along, it's seemed possible that Mount Holly would settle before the December oral arguments. This morning, that's looking even […]
by Deepak Gupta On April 4, 1968, Dr. Martin Luther King Jr. was assassinated as he stood on the balcony of the Lorraine Motel in Memphis. His killing sparked a fresh round of riots in cities nationwide. Nearly two dozen representatives immediately changed positions and urged passage of the Fair Housing Act. Within a week, with […]
Remember how car dealers fought to avoid being subject to the Consumer Financial Protection Bureau's jurisdiction, and won? It turns out that the dealers are still experiencing pressure to comply with the Bureau's edicts. From Carter Dougherty's story: Under pressure from the agency, large banks that routinely buy auto loans have been reviewing records to […]
Jeffrey Bils, a UCLA law student, has published Fighting Unfair Credit Reports: A Proposal to Give Consumers More Power to Enforce the Fair Credit Reporting Act, in the latest UCLA Law Review Discourse. Here's a summary: Credit reports play a central role in some of our most important transactions, such as buying a house or car, or […]
by Deepak Gupta I thought readers might be interested in a new appeal that my firm is handling in the Ninth Circuit, Moran v. The Screening Pros, concerning the state and federal regulation of background-check companies. You can read our opening brief here. The Consumer Financial Protection Bureau and the Federal Trade Commission have weighed in with an amicus […]
by Jeff Sovern One of the things Ira Rheingold and I wrote about in our Times op-ed earlier this summer was the need to require lenders that furnish information to conduct better investigations when they receive complaints about inaccurate information supplied to credit bureaus. Today, the CFPB issued a bulletin about the duties of furnishers. […]
by Jeff Sovern Here. The article reports on the case on which we previously blogged in which a woman won an $18.6 million verdict under the Fair Credit Reporting Act. And it provides more support for the reforms Ira Rheingold and I argued for in our recent Times op-ed: requiring credit bureaus to be more […]
Here. The story is about consumer reports maintained on consumers' banking practices originally intended to bar fraud but that often result in banks denying accounts to low-income consumers because of bounced checks and similar blemishes.
by Jeff Sovern A couple of weeks ago, Ira Rheingold and I had an op-ed in the Times about issues with credit reports. Almost on cue, the Associated Press reports Jury awards Oregon woman $18.6M over credit report. It seems she had been trying to get Equifax to correct errors for two years. In the op-ed, […]