Philadelphia PA (November 3, 2023) – William J. Carr, a partner in Rawle’s Philadelphia office, successfully obtained a defense judgment in a commercial litigation matter in favor of a global financial technology institution.
The matter involved claims for willful violations of the Fair Credit Reporting Act (FCRA) for allegedly furnishing inaccurate information to credit reporting agencies (CRAs) arising out of a failure to repay an installment loan to finance a business venture. The claimant was seeking an award of statutory and punitive damages under 15 U.S.C. § 1681, in addition to compensatory damages for psychological injury.
In the face of a six-figure settlement demand, Mr. Carr successfully defended the client in a AAA Arbitration proceeding and defeated all claims by establishing that the claimant violated the terms of the lender agreement and failed to follow the statutory process set forth under the law at 15 U.S.C. §1681. He further established that his client conducted a reasonable investigation, did not knowingly report any erroneous information and, in fact, demonstrated that at all times reported factual and accurate information about the claimant to the CRAs. As such, all of the claims were dismissed with prejudice.
About Rawle & Henderson LLP: Founded in 1783, Rawle & Henderson has been recognized by the American Bar Association as the oldest law firm in continuous practice in the United States. With 10 offices in Delaware, New Jersey, New York, Pennsylvania and West Virginia, its more than 100 lawyers represent the interests of corporations, businesses, individuals and their insurers. For more information, visit http://www.rawle.com