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The Supreme Court has granted certiorari to review a $40 million class action trial judgment for statutory and punitive damages under the Fair Credit Reporting Act, and its forthcoming decision later this Term will likely be the Supreme Court’s most important ruling in the consumer financial services space since its 2016 ruling in
Spokeo, Inc. v. Robins.
In
TransUnion, LLC. v. Ramirez, the Supreme Court agreed to decide the following question posed by TransUnion: “Whether either Article III or Rule 23 permits a damages class action where the vast majority of the class suffered no actual injury, let alone an injury anything like what the class representative suffered.” In this case, plaintiff Sergio Ramirez alleged that he suffered difficulty in obtaining credit, embarrassment in front of family members, and had to cancel a vacation after an automobile dealer received a credit report incorrectly indicating that
Changing Date of Status and First Reported Date May Expose Furnisher to a Willful Violation of the FCRA | Troutman Pepper jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Today, the United States Supreme Court granted a writ of
certiorari in
Trans Union LLC v. Ramirez. At issue
is an eight-figure judgment obtained by a certified class of
consumers for statutory and punitive damages based on violations of
the Fair Credit Reporting Act ( FCRA ), which was upheld
by a divided Ninth Circuit panel. The Supreme Court s order
accepts the following Question Presented for review: Whether
either Article III or Rule 23 permits a damages class action where
the vast majority of the class suffered no actual injury, let alone
an injury anything like what the class representative
suffered.
The litigation arises out of the named plaintiff s car
GLBA meaning and definition
The Graham-Leach-Bailey Act (GLBA) is a 1999 law that allowed financial services companies to offer both commercial and investment banking, something that had been banned since the Great Depression. The general public may be most aware of the GLBA in the context of debates as to whether it helped cause the 2008 subprime mortgage crisis, but for IT professionals, it s much better known for the data security and privacy mandates it imposes on a wide range of companies and organizations, even beyond the banking industry. While many of these rules represent best IT practices, the legal stakes of noncompliance are high, with big fines and even potential jail time looming for those who fall short.
Thursday, December 17, 2020
In a putative class action concerning Experian’s marketing of its “Experian Credit Score” service, the Ninth Circuit recently affirmed a lower court order granting Experian’s motion to compel arbitration based on an arbitration clause in its terms and conditions. That arbitration clause also included a class action waiver, thus effectively barring plaintiff from bringing her claims on a class-wide basis.
In June 2014, plaintiff Rachel Stover purchased the “Experian Credit Score” service, which provides subscribers with periodic credit scores. In doing so, she agreed to Experian’s terms and conditions, including an arbitration clause stating that all claims arising out of the transaction were subject to arbitration “to the fullest extent permitted by law,” and that plaintiff was waiving her right to participate in a class action. Plaintiff cancelled her subscription the next month. In 2018, she sued Experian, alleging it frau