7th Circuit: Credit reporting agency did not provide inaccurate info

On August 7, the U.S. Court of Appeals for the Seventh Circuit affirmed a lower court’s decision in favor of a credit reporting agency (the defendant), finding it did not report inaccurate credit information. An individual brought a case against the defendant under the FCRA alleging the company reported inaccurate late payments in her consumer report. The individual made mortgage payments on her home from 2007 to 2015 but was later found delinquent on her mortgage. She settled her debt through a short sale and the account was closed. Years later, the plaintiff discovered her closed mortgage account was still reported as delinquent in her credit reports and contacted the defendant. The defendant confirmed the information on file, and the lower court ruled that all the information “furnished and reported by [the defendant] … was all true.”

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Enhance your compliance team and get the insights you need to protect your business. 

As a Research Assistant member, you’ll get the insight you’re looking for all curated by our team of compliance experts. Features include weekly roundtables with your peers, a weekly newsletter, and a library of up-to-date tools including CMS-enhancing guides, policy templates, policy builder tools, reports, and a state law quick reference matrix that lets you track Statutes-of-Limitation by judgment duration, lien and garnishment, and statutory references, by state and by product type. Learn More.  

Federal Judge Sanctions Pittsburgh Law Firm for Writing ‘Imaginary’ Letters on Behalf of Clients in Debt Disputes

A Pennsylvania federal judge has imposed sanctions and lambasted a law firm and its attorneys for having employees write falsified letters on behalf of clients involved in debt collection disputes.

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Credit Card Charge-Offs and Delinquencies Increased to More Than a 12-year High, According to Federal Reserve’s Q2 Data.

Credit card charge-offs and credit card loan delinquencies continue to be at a more than 12-year high, according to the Federal Reserve’s second-quarter report.

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Alliant Capital Management Sponsors Sweet Expectations Event to Benefit FeedMore WNY

BUFFALO, N.Y. -- Alliant Capital Management is proud to announce its bronze-level sponsorship of the Sweet Expectations event to benefit FeedMore WNY. This event is a celebration of community spirit and a fundraising effort to support the critical mission of FeedMore WNY, which provides food and resources to individuals and families in need across the Western New York region.

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insideARM Weekly Recap - Week of August 19th, 2024

It can be easy to lose focus in a seemingly never-ending news cycle. Sometimes, especially in the ARM industry, it can feel like we have to know every nuance about everything that's happening. At insideARM though, we are committed to bringing you only the most relevant news. We're here to help you elevate the need-to-know over the nice-to-know. Every Monday, we bring you a recap to help you stay informed and let you know why the news we selected should be on your radar.

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IC System Appoints Mike Selbitschka as Executive Vice President of Sales

St. Paul, Minn., -- IC System is excited to announce the promotion of Mike Selbitschka to Executive Vice President of Sales. In his new role, Mike will leverage his extensive expertise in the collections industry to drive sales, enhance marketing strategies, and lead client acquisition efforts at IC System.

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RA Compliance Corner: Managing Your Service Providers- Do you really have it all in order?

25 September 2024 at 02:00 p.m.

It's not news that a comprehensive vendor management policy is a must in today’s compliance-centric environment. But are you creating risk for your organization by leaving your vendor management policy on auto pilot? 

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