Greg DeVries | McGlinchey Stafford PLLC

Greg DeVries represents financial institution clients including national banks, mortgage lenders and servicers, auto finance companies, and other consumer financial service providers in state and federal court. He frequently defends the firm’s lending and servicing clients in claims arising under the Truth in Lending Act (TILA), Fair Credit Reporting Act (FCRA), and Fair Debt Collection Practices Act (FDCPA), as well as suits based on alleged violations of the Texas Constitution’s provisions on home equity lending, and other Federal and State statutes.

In prior positions, including a Clerkship with the Texas Attorney General’s General Litigation Division, Greg has gained experience in various areas of employment law, corporate and contract law, and real estate proceedings.

FCRA Litigation Update
Gregg Stevens (Dallas) and Greg DeVries (Houston) authored an update on FCRA Litigation for the Texas Bar CLE’s 18th Annual Course on Advanced Consumer & Commercial Law.
Third Circuit Adopts “Reasonable Reader” Standard for Credit Report Accuracy
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.
Third Circuit Adopts “Reasonable Reader” Standard for Credit Report Accuracy
You are likely aware that 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.

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