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US HB5775
Bill
Status
10/17/2025
Primary Sponsor
Barry Loudermilk
Click for details
AI Summary
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Amends the Fair Credit Reporting Act to cap punitive damages in individual willful noncompliance cases at the lesser of $100,000 or 40% of actual damages awarded
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Establishes new limits for class action lawsuits involving willful FCRA violations: total class recovery capped at the lesser of $500,000 or 1% of the defendant's net worth, with no minimum per-member damages allowed
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Caps attorney's fees and costs in willful noncompliance class actions at the lesser of $100,000 or 40% of damages awarded
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Creates parallel class action limits for negligent FCRA noncompliance cases, capping total recovery at the lesser of $500,000, 1% of net worth, or costs plus fees not exceeding $100,000 or 40% of actual damages
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Caps attorney's fees in individual negligent noncompliance cases at the lesser of $100,000 or 40% of actual damages
Legislative Description
FCRA Liability Harmonization Act
Last Action
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.
10/17/2025