In October, FCRA suits were up +11.4 percent and a similar pattern is in place YTD.
Putative class actions represented 3.7% of FCRA lawsuits filed last month.
About 35% of all plaintiffs who filed suit last month had filed at least once before.
Now, on the 2020 projections…
Based on the first ten months of the year, plus projected Nov/Dec numbers based on patterns from Nov/Dec of the last three years (on average about a 15% drop over the rest of the year’s average numbers in those last two months), we are coming up with a slight increase in FCRA.
FCRA is the only statute to have grown in the number of filings every year in recent history and will be ending 2020 at a projected 5190 suits, up from 4959 in 2019.