Report: FCRA Litigation Filings Continue to Increase
WebRecon’s monthly data show the FCRA is taking the place of the Telephone Consumer Protection Act when it comes to litigation activity.
4/3/2018 8:00 AM
Fair Credit Reporting Act cases led consumer litigation filings in February, primarily due to one suit filed on behalf of many plaintiffs, while Telephone Consumer Protection Act Cases and Fair Debt Collection Practices Act cases declined, according to the latest report from WebRecon.
The TCPA almost always has higher numbers and momentum, but FCRA filings are picking up, according to WebRecon CEO Jack Gordon.
There were 422 FCRA filings in February 2018 and 265 during February 2017.
“This showcases an unmistakable trend in recent months where FCRA has broken out of the shadows to show new strength in the consumer litigation big picture,” according to Gordon.
He also reports that CFPB complaints, while there was a decline in January, are still higher than the last 12-month average of 4,162. There were 4,439 complaints to the CFPB in February.
Similar to December and January, debt collection companies responded to a majority, 95 percent (4,202), of February CFPB complaints in a timely manner.
Read more findings in the WebRecon report.
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