House Financial Services Committee Advances Credit Reporting Bills
The House Financial Services Committee last night approved several bills that would amend the Fair Credit Reporting Act and make changes to the credit reporting process.
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ABA: Proposed Legislation Would Degrade Credit Reports
In a memo to members of the House Financial Services Committee today, the American Bankers Association expressed opposition to several bills that would amend the Fair Credit Reporting Act and make changes to the credit reporting process.
Agencies Issue Advisory on Education Loan Rehabilitation Programs
The Federal Reserve and FDIC today issued an advisory on voluntary private education loan rehabilitation programs to alert banks to an amendment to the Fair Credit Reporting Act that was included in the S. 2155 regulatory reform law.
Supreme Court Affirms ‘Injury in Fact’ Class Action Standard
In a 6-2 decision, the Supreme Court today affirmed the principle that plaintiffs seeking to bring class actions in federal court must demonstrate concrete and particular “injury in fact” in order to have standing.
FTC Report Outlines Legal Risks, Benefits of ‘Big Data’
A new report from the Federal Trade Commission outlines several risks related to discrimination for companies using “big data” to make decisions about credit, employment and marketing.
ABA Provides Clarity on New Annual Privacy Notice Exception
In response to recent questions from member banks, ABA today issued a staff analysis providing clarity on new exception to the annual privacy notice requirement recently signed into law.
Banking Cases to Watch on the Supreme Court’s Fall Docket
ABA is actively involved in several important cases impacting banking during the fall term of the U.S. Supreme Court.
Supreme Court Will Examine Article III Standing
The Supreme Court will decide whether a plaintiff has standing to sue for statutory violations under the Fair Credit Reporting Act despite a lack of concrete injury.