A couple of months ago, the United States Supreme Court issued what will no doubt become a landmark opinion in the FCRA litigation arena. That case, Safeco Insurance Co. of America v. Burr, clarified for all the courts in the land, including the Seventh Circuit (that had wrongly imposed a…
The United States Court of Appeals for the Seventh Circuit decided the case of Heather Gillespie and Angela Cinson v. Equifax Information Services, L.L.C. on May 3, 2007. The case contains some language of which every FCRA/Consumer lawyer in the United States should be aware. Plaintiffs in this case claimed…
Incoming Chairman of the House Financial Services Committee Rep. Barney Frank (D-Mass.) has announced his intent to hold hearings in 2007 aimed at the credit reporting industry. Frank believes that the 2003 Fact Act that provided consumers easier and cheaper access to their credit report may not have gone far…
Most people these days are at least somewhat aware of the recent law passed by Congress (Fair and Accurate Credit Transactions Act of 2003, also called FACTA or the FACT Act) that allows each consumer to obtain one free credit report once a year from each of the big three…
Ever wonder what it would take to have a PERFECT credit score? Actually, Fair Isaac Corporation, creator of the FICO credit scoring system (maximum score = 850), is on record stating that a perfect score is impossible. Apparently the best you can reasonably hope for is 820 to 840. Approximately…