The two federal agencies have jointly filed an amicus brief urging the 2nd Circuit court to reverse a district court decision on the FCRA’s requirements for accurate and fair credit reporting.
10/04/2023 12:45 P.M.
1 minute read
The Federal Trade Commission and Consumer Financial Protection Bureau have filed an amicus brief in a significant credit reporting case, Suluki v. Credit One Bank, NA.
On Sept. 29, the two federal agencies filed a joint amicus brief (PDF) in the U.S. Court of Appeals for the 2nd Circuit, advocating for the reversal of a district court’s ruling.
The case revolves around a consumer who disputed erroneous credit information resulting from unauthorized credit card accounts allegedly opened by her mother. The FCRA stipulates that furnishers of credit information must investigate and promptly delete unverifiable disputed information reported by consumers to credit reporting agencies.
The district court’s decision granted summary judgment for the defendant bank.
In their amicus brief, the FTC and CFPB disputed the district court’s interpretation of the FCRA, arguing that the lower court’s decision could impede consumers’ ability to dispute inaccuracies in their credit reports, potentially affecting their access to housing, employment and credit.
“The consumer appealed after the district court granted summary judgment to the creditor finding the consumer could not show harm for the creditor’s failure to conduct a reasonable investigation,” according to ACA member company Troutman Pepper.
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