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AFSA Amicus in Sessa v. TransUnion

AFSA Amicus in Sessa v. TransUnion

AFSA, along with several other trade associations, submitted an amicus brief in Sessa v. TransUnion. In the case, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) argue that the Fair Credit Reporting Act (FCRA) does not distinguish between “legal” and “factual” inaccuracies, and thus credit reporting agencies (CRAs) may be held liable for failing to maintain reasonable procedures to prevent even inaccuracies that turn on legal questions regarding the underlying debt or credit information.

The amici curiae released the below statement along with the full amicus brief.

“The Fair Credit Reporting Act requires credit reporting agencies to guard against factual inaccuracies, not to resolve legal disputes.  We’re asking the Second Circuit to reject the CFPB’s theory, which would require credit reporting agencies and furnishers to adjudicate legal disputes that courts should resolve.  That approach would have damaging economic consequences for consumers, furnishers, and credit reporting agencies.”

AFSA will continue to monitor this case closely.

August 5th, 2022

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