News and Resources

A Brief History of the FCRA and the Potential for New Litigation After Dodd-Frank

Jonathan D. Jerison & Bradley A. Marcus

April 13, 2011

The Fair Credit Reporting Act took effect in April 1971. That made the FCRA one of the earliest national consumer protection laws, along with the 1968 Truth in Lending Act. Since then, the FCRA has been amended several times, most recently by the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203.

While litigation under FCRA has been perennially problematic for financial services companies throughout its legislative history, this latest set of changes lays the groundwork for regulatory changes that portends a fresh round of litigation.

Posted from Consumer Financial Services Law Report with permission from Thomson Reuters.