Banks Can't Decide What Triggers FCRA Investigation

Law360, New York (November 15, 2012, 1:07 PM EST) -- The Fair Credit Reporting Act determines what is necessary to trigger a duty to investigate a credit dispute, not a bank’s internal policies. In Boggio v. USAA Federal Savings Bank, No. 11-4040, 2012 U.S. App. LEXIS 20239 (6th Cir. Sept. 27, 2012), the Sixth Circuit rejected USAA’s argument that it was entitled to a police report and a fraud affidavit before it needed to do any investigation beyond a cursory review.

The case details were far from unique. When Frank and Sarah Boggio separated in 2006,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.