FTC Joins with CFPB in Filing Amicus Brief Urging Reversal of Decision Misinterpreting FCRA’s Requirement to Remove Disputed, Unverified Credit Information

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The Federal Trade Commission has joined the Consumer Financial Protection Bureau (CFPB) in filing an amicus brief in the U.S. Court of Appeals for the Second Circuit urging reversal of a district court decision that the agencies say overlooked the Fair Credit Reporting Act’s requirement to delete information disputed by a consumer that cannot be verified by a furnisher of that information.

The case, Suluki v. Credit One Bank, NA, involves a consumer who allegedly disputed with the credit reporting agencies (CRAs) information on her credit report that she said resulted from multiple credit card accounts that her mother opened in her name without her permission or knowledge. The CRAs sent the dispute to the credit card companies for investigation. After Credit One refused to remove the information and purportedly verified the consumer as the accountholder, she sued the company under the Fair Credit Reporting Act, which requires that, upon being notified of a dispute by a CRA, furnishers investigate whether the disputed information can be verified. If such an investigation is inconclusive, the FCRA requires the furnisher to delete from the data that the furnisher submits to CRAs the information that cannot be verified, according to the FTC-CFPB brief.

The consumer appealed after the district court granted Credit One’s request for summary judgment and held that she could not show harm from any failure by Credit One to conduct a reasonable investigation.

In their brief, the FTC and CFPB disputed the district court’s interpretation of the FCRA. They noted that under the FCRA, if a furnisher of credit information cannot determine whether the disputed consumer information is accurate, it must tell the CRAs that the information could not be verified and must delete it from the data that it reports to the CRAs.

Inaccurate information on a consumer report can hamper people’s ability to get housing, employment, and credit. The FTC and CFPB maintain that the lower court’s decision could impact consumers’ rights under the FCRA to dispute the completeness or accuracy of information and have it removed if a furnisher cannot verify that it is accurate.

The Commission voted 3-0 to join the CFPB amicus brief.

Official news published at https://www.ftc.gov/news-events/news/press-releases/2023/09/ftc-joins-cfpb-filing-amicus-brief-urging-reversal-decision-misinterpreting-fcras-requirement-remove

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VIP Minds CEO and Visionary Nora Abou Chakra Launches ‘Power Hearts,’ a Transformative Initiative Driving Social Change

CEOs revolutionizing philanthropy through inspiring charitable actions

Today marks the launch of "Power Hearts," an innovative initiative led by businesswoman and visionary Nora Abou Chakra. With each endeavor, Power Hearts embarks on a different mission, empowering CEOs to take direct action and make a tangible impact. Through immersive experiences and hands-on involvement, Power Hearts addresses pressing societal issues, fostering empathy and inspiring CEOs to become advocates for change within their organizations and communities.

Nora Abou Chakra, a respected entrepreneur known for her philanthropic endeavors, has once again demonstrated her commitment to driving social change with the launch of Power Hearts. Under this empowering initiative, CEOs from diverse industries come together to tackle pressing issues and create transformative solutions.

An example of these missions is hunger. Power Hearts combats hunger and alleviate the suffering of those affected by it. CEOs gather in a large-scale communal kitchen, where they actively participate in purchasing groceries and cooking meals for those in need.

The immersive experience provided by Power Hearts goes beyond the kitchen. CEOs physically hit the streets, personally distributing the freshly prepared meals to individuals experiencing hunger. This direct interaction with those in need further deepens their understanding of the issue, sparking a profound connection and a sense of shared humanity.

CEOs return to their organizations with a renewed perspective and a profound commitment to addressing the issue of hunger. They become ambassadors for change, leveraging their influence and resources to advocate for hunger relief initiatives within their respective communities and among their staff members.

Nora Abou Chakra, the driving force behind Power Hearts, expressed her enthusiasm for the initiative, stating, "Power Hearts aims to create a ripple effect of compassion and advocacy. By immersing CEOs in the realities of pressing social issues, we ignite a powerful drive for change that reverberates throughout their personal and professional spheres. Together, we can make a significant difference and create a more compassionate and equitable world."

Power Hearts represents Nora Abou Chakra's unwavering commitment to leveraging the influence and resources of business leaders for the greater good. By providing CEOs with transformative experiences, Power Hearts empowers them to become catalysts for change and advocates for social causes that resonate with their hearts.

For more information about Power Hearts and its upcoming initiatives, please visit powerhearts.com or follow us on @power.hearts

Contact Information:
Stephanie Khalil
Executive Assistant to CEO

Original Source: VIP Minds CEO and Visionary Nora Abou Chakra Launches 'Power Hearts,' a Transformative Initiative Driving Social Change

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