Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The FCRA Liability Harmonization Act would limit damages in class action lawsuits against companies that violate the Fair Credit Reporting Act, which governs credit reporting agencies and how they handle consumer credit information. Specifically, the bill caps total class action recoveries at the lesser of $500,000 or 1 percent of the defendant's net worth, while also imposing individual statutory damages caps of $100,000 per violation or 40 percent of actual damages awarded. The legislation applies to both intentional violations ("willful noncompliance") and unintentional violations ("negligent noncompliance"), and includes limits on attorney's fees and litigation costs. The bill affects consumers who have been harmed by credit reporting errors, as well as credit reporting companies and other entities regulated under the Fair Credit Reporting Act. The measure contains no specified funding or implementation timeline beyond its legislative introduction in October 2025.
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