I Need to Investigate What?! That’s Gross (and Other Legal Developments Regarding FCRA Investigations)

May 19, 2023

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Consumer Reporting Agencies (CRAs) and furnishers have obligations to investigate consumer disputes regarding the accuracy of credit reporting. But when does the investigation cross over from fact-finding to the realm of legal interpretation?

Member Joe Apatov (Fort Lauderdale) will join a panel “I Need to Investigate What?! That’s Gross (and Other Legal Developments Regarding FCRA Investigations),” at The Conference on Consumer Finance Law (CCFL) on May 19, 2023, in Chicago, Illinois. This panel will explore the body of emerging case law regarding Fair Credit Reporting Act (FCRA) compliance obligations in the face of disputes involving both factual and legal questions.

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Insights

Presentation

ABA Consumer Financial Services Committee Winter Meeting 2023

January 21-24, 2023

Four McGlinchey attorneys will participate in panel discussions during the American Bar Association (ABA) Business Law Section Consumer Financial Services Committee Winter Meeting at the Ritz Carlton, New Orleans, on January 21-24, 2023.

Published Article

Gross v. CitiMortgage: An Expansion of the Duty to Investigate Under the FCRA

December 16, 2022

David W. Thompson, Gregg Stevens, Joseph Apatov, and Sanford P. Shatz co-authored an article on "Gross v. CitiMortgage: An Expansion of the Duty to Investigate Under the FCRA" in the Conference on Consumer Finance Law (CCFL) Consumer Finance Law Quarterly Report, Vol. 75, No. 4.

Published Article

Third Circuit Rules the FCRA Waives U.S. Sovereign Immunity

October 7, 2022

On August 24, 2022, the U.S. Court of Appeals for the Third Circuit held that the plain text of the Fair Credit Reporting Act (FCRA) operates as a waiver of sovereign immunity, widening the circuit split on this issue.

Published Article

Third Circuit Adopts “Reasonable Reader” Standard for Credit Report Accuracy

August 30, 2022

The Fair Credit Reporting Act (FCRA) 15 USC 1681 et. seq. requires furnishers of information to report the information accurately. Recently, several payment rating/account status cases have been filed and litigated where the Plaintiff’s bar contends the industry’s reporting of account information is misleading and violates the FCRA. However, on August 8, 2022, the U.S. Court of Appeals for the Third Circuit outlined how district courts within the Circuit must analyze credit reports when determining whether an individual tradeline is inaccurate or misleading under the FCRA. This analysis may prove to be the first nail in the coffin of the so-called “payment rating” cases which began in 2015.