Aug 19, 2010
Credit Report Agencies Liable if They Pass On Bad Watch List Data
In a significant setback for credit reporting agencies, the 3rd Circuit has ruled that consumers have the right to sue if a credit report includes inaccurate information drawn from a government watch list. The opinion marks the first time that a federal appellate court has held that such information is regulated by the federal Fair Credit Reporting Act, and could force Trans Union and other credit reporting agencies to overhaul their policies for handling such information in order to guarantee its accuracy.