The U.S. Court of Appeals for the Second Circuit has ruled in Sessa v. Trans Union, LLC, that a claimed inaccuracy is potentially actionable under the Fair Credit Reporting Act (FCRA) so long as the challenged information is objectively and readily verifiable. In the case, the assignee of the plaintiff’s vehicle lease furnished information to TransUnion that she owned a “balloon payment” at the end of the lease in the amount of the vehicle’s residual value, which was reported on her credit report as a debt, violating the requirement to follow reasonable procedures to assure the maximum possible accuracy of the information contained in a consumer report.
