AFSA joined several other trades in an amicus brief in a Fair Credit Reporting Act (FCRA) case in front of the 11th Circuit. The case, Holden v. Holiday Inn Club Vacations, is over whether a furnisher has to investigate not only the factual accuracy of reported information, but also must assess and resolve legal disputes. AFSA and the other trades argue that consumer reporting agencies and furnishers have a duty to investigate whether disputed information in a credit file is accurate, but not to resolve all legal disputes about a debt.
The CFPB and FTC also submitted an amicus brief in the case, but on the other side of the issue. The agencies argue that not requiring furnishers to investigate legal disputes risks exposing consumers to more inaccurate credit reporting, conflicts with the decision of another circuit, undercuts the remedial purpose of the FRCA, and would allow furnishers to evade their statutory obligations by characterizing nearly any dispute as a “legal” one.
The trades’ amicus pushes back on these claims, stating that: (1) the FRCA clearly addresses factual inaccuracies, not legal disputes; (2) the 11th Circuit and other courts have already correctly interpreted the FCRA; and (3) the CFPB’s proposed approach is unworkable, expensive and inefficient. The brief noted that the FCRA’s legislative history confirms Congress’ focus on factual inaccuracies, not legal disputes, citing the story of Mary Lou Mobley, whose credit report reflected that she was married to a financially troubled man from Arizona, even though she had never been married or been to Arizona. The trades wrote, “Expecting credit personnel – especially those with no legal training – to resolve them borders on the absurd.”
AFSA Files Amicus in FCRA 11th Circuit Case
Feb 16, 2023
AFSA joined several other trades in an amicus brief in a Fair Credit Reporting Act (FCRA) case in front of the 11th Circuit. The case, Holden v. Holiday Inn Club Vacations, is over whether a furnisher has to investigate not only the factual accuracy… Read the rest
Keynote Jake Harriman
Feb 16, 2023
AFSA is pleased to announce that Jake Harriman, retired U.S. Navy Force Recon Commander and founder of a global poverty eradication nonprofit, will serve as the 2023 Independents Conference and Expo Featured Speaker.
Born in rural West Virginia,… Read the rest
AFSA SVPs on the Auto Remarketing Podcast
Feb 14, 2023
AFSA SVPs Celia Winslow and Danielle Arlowe recently appeared on he Auto Remarketing Podcast with Nick Zulovich of Auto Finance News. Celia & Danielle discussed the latest developments on the federal and state level, respectively, … Read the rest
AFSA Celebrates Black History Month | Marc Womack
Feb 14, 2023
For Black History Month, AFSA seeks to celebrate the efforts and accomplishments of AFSA member company colleagues working in the consumer credit and financial services industries.
Marc Womack
Executive Vice President, Head of … Read the rest
AFSA, Trades Oppose ND Interchange Bill
Feb 13, 2023
AFSA recently joined 13 other state and national trade associations in a comment letter opposing North Dakota SB 2217, which recently passed the Senate and is currently pending in the House. SB 2217 would prohibit the collection of interchange… Read the rest
California Privacy Regulations
Feb 11, 2023
The California Privacy Protection Agency Board met on February 3rd to discuss rules implementing the California Privacy Rights Act (CPRA).
During the meeting, the board voted to approve their final rulemaking package under the CPRA. The… Read the rest
CFPB Exceeds Jurisdiction
Feb 09, 2023
A mortgage lender and its owner have won a decisive victory against the CFPB in federal court. In Bureau of Consumer Financial Protection v. Townstone Financial et al., the U.S. District Court for the Northern District of Illinois invalidated… Read the rest
2023 Independents Conference & Expo Keynote Announcement
Feb 07, 2023
AFSA is pleased to announce change-agent CEO, author, and one of America’s most popular corporate speakers, Amanda Gore, as an Independents Conference & Expo Keynote Speaker.
For more than 25 years Amanda has used her expertise in emotional… Read the rest
AFSAEF EDGE & Leadership Development Program Registration Open
Feb 03, 2023
Registration for the 2023 AFSA Education Foundation leadership programs are now available.
The 2023 edition of THE EDGE (Education, Development, Growth & Enrichment) program will be held June 11-16 at Mercer University in Atlanta,… Read the rest
Rate Caps Fail Illinois Consumers
Feb 02, 2023
Even in the sometimes-arcane world of academic research where biases were once frowned upon, it’s interesting to see how those biases have real world consequences.
Take, for example, the comments of Adam Levitin, a law professor and practicing… Read the rest