Sec. 2. Maintaining consistency in civil liability under the Fair Credit Reporting Act for class actions
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Section 616 of the Fair Credit Reporting Act ( 15 U.S.C. 1681n ) is amended— in subsection (a)— by striking paragraph (2); by redesignating paragraph
(3)as paragraph (2); and in paragraph (1)(B), by inserting and after the semicolon; by redesignating subsection
(d)as subsection (e); and by inserting after subsection
(c)the following new subsection: With respect to a class action (as such term is defined in section 1711 of title 28, United States Code), or series of class actions arising out of the same failure to comply of a person, brought by consumers against a person who willfully fails to comply with any requirement imposed under this title, such person is liable to such consumers in such an amount as a court may determine, except that— the court may not apply a minimum amount of damages for each member of the class; and the total recovery (excluding reasonable attorney’s fees as determined by the court) of the class shall not exceed the lesser of— $500,000; or 1 percent of the net worth of such person. . Section 617 of the Fair Credit Reporting Act ( 15 U.S.C. 1681o7 ) is amended by adding at the end the following new subsection: With respect to a class action (as such term is defined in section 1711 of title 28, United States Code), or series of class actions arising out of the same failure to comply of a person, brought by consumers against a person who negligently fails to comply with any requirement imposed under this title, such person is liable to such consumers in an amount equal to the sum of any actual damages sustained by the consumers as a result of the failure, except that the total recovery (excluding reasonable attorney’s fees as determined by the court) of the class shall not exceed the lesser of— $500,000; or 1 percent of the net worth of such person. .
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Sec. 2
Maintaining consistency in civil liability under the Fair Credit Reporting Act for class actions
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