When the database is wrong ... do customers have any effective remedies against credit reporting agencies or information providers?
Article Abstract:
Consumers injured by inaccurate credit reports have limited means of recovery against credit bureaus, through the Fair Credit Reporting Act (FCRA), common law defamation suits, or possibly civil RICO actions. The reform bill known as the Consumer Reporting Reform Act of 1995, if passed, would make information providers liable for the first time, while strengthening FTC enforcement powers. However, consumers can also protect themselves by preventive measures such as careful completion of credit applications and occasional reviews of credit reports, or by using the FCRA dispute procedure.
Publication Name: Commercial Law Journal
Subject: Law
ISSN: 0010-3055
Year: 1995
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The classification of credit card receivables: In re Brendle's Stores, Inc
Article Abstract:
Credit card receivables, not classifiable as instruments under the 1993 Brendle court ruling, are a new type of collateral requiring a Uniform Commercial Code amendment. The UCC allows these receivables to be classified as either accounts or general intangibles depending on what was sold, a distinction not addressed in Brendle. A UCC amendment defining credit card receivables as a separate collateral type would statutorily eliminate the uncertainties faced in the Brendle case and aid purchasers of receivables.
Publication Name: Commercial Law Journal
Subject: Law
ISSN: 0010-3055
Year: 1995
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S. 9-307(1) - limitation on priority of buyer in ordinary course over holders of a perfected security interest in the goods
Article Abstract:
An Oregon court held buyers in ordinary course of business could not prevail over a bank because their motor home was not purchased from the creator of the security interest in the home. The buyers bought the motor home knowing a perfected security interest existed. However, their argument was defeated under UCC 9-307 because they purchased the home from a dealer, rather than the debtor who created the security interest.
Publication Name: Uniform Commercial Code Law Journal
Subject: Law
ISSN: 0041-672X
Year: 1996
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