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 […]
Category Archives: Credit Reporting
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, […]
by Jeff Sovern Former governor, HUD general counsel, and current head of the American Bankers Association Frank Keating has penned an op-ed for the Wall Street Journal (behind paywall) with the headline above. Keating complains that HUD has adopted the disparate impact test for discrimination; that the CFPB's qualified mortgage rule (QM rule) will restrict […]
by Jeff Sovern The Supreme Court today granted cert in Mount Holly v. Mount Holly Gardens Citizens in Action, which raises the issue of whether courts can use the disparate impact test in federal Fair Housing Act (FHA) cases. Because the language of the FHA is similar to that of the Equal Credit Opportunity Act […]
Daniel Schwarcz of Minnesota has written Monitoring, Reporting, and Recalling Defective Financial Products, University of Chicago Legal Forum (2013). Here is the abstract: In recent years, innovations in consumer financial protection have drawn heavily from the law governing the safety of tangible products. This short essay, prepared for a symposium entitled "Frontiers of Consumer Protection," […]