FTC Releases Substantial Revisions to Fair Credit Reporting Act Policy Guidance

by Troutman Sanders CFPB Team On July 20, 2011, the Federal Trade Commission (FTC) issued a staff report on the Fair Credit Reporting Act (FCRA). Among a host of other changes, the report rescinds 16 CFR 600.1 (defining the authority and purpose of the FTC in providing interpretive guidance under...

U.S. High Court: Little Tucker Act Doesn’t Waive Government’s Sovereign Immunity

WASHINGTON, D.C. - (Mealey's) The Little Tucker Act doesn't waive the U.S. government's sovereign immunity when it comes to damages actions filed under the Fair Credit Reporting Act (FCRA), a unanimous U.S. Supreme Court ruled on Nov. 13 ( United States of America v. James X. Bormes ,...

Defamatory Statements to Credit Reporting Agencies Held Not Preempted by FCRA

Michelle Bourdelais brought a defamation claim in the Richmond Division of the Eastern District of Virginia against Chase Bank and Chase Home Finance, based on Chase's alleged reporting of inaccurate information about the status of her mortgage payments to consumer reporting agencies. Chase...