According to a recent report from WebRecon, filings of Fair Credit Reporting Act cases have continued to increase in 2018. FCRA claims led consumer litigation filings in February, while Fair Debt Collection Practices Act ("FDCPA") and Telephone Consumer Protection Act ("TCPA") cases declined during the same month. The overall statistics for consumer litigation in February 2018 were as follows:

  • 2,458 complaints filed with the Better Business Bureau
  • 4,439 complaints filed with the Consumer Financial Protection Bureau
  • 788 FDCPA cases filed, of which 181 were class actions (23.0%)
  • 296 TCPA cases filed, of which 66 were class actions (22.3%)
  • 422 FCRA cases filed, of which 153 were class actions (36.3%)

Notably, the 422 FCRA filings in February 2018 far outnumbered the 265 filings from the same month last year.

Troutman Sanders will continue to monitor industry trends and will provide updates as they are available.

The Troutman Sanders' Consumer Financial Services Law Monitor blog offers timely updates regarding the financial services industry to inform you of recent changes in the law, upcoming regulatory deadlines and significant judicial opinions that may impact your business. To view the blog, click here

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