FCRA class action awards should be limited, according to a CFPB task force report.
The Taskforce on Federal Consumer Financial Law published a two-volume report on January 5, 2021, detailing how to improve consumer protection in the financial marketplace. The Taskforce issued more than 100 recommendations, of which seven directly dealt with consumer credit reporting,the Fair Credit Reporting Act ("FCRA"), and consumer credit reporting generally. This included issues tied to legislation. The FCRA does not have limits on class action awards, which is widely held to create inconsistency in consumer protection laws. To read more about the task force report, please visit here, The CFPB Taskforce Recommends Limits on FCRA Class Action Awards In Report | wombledondickinson.com | for further information.