H.R. 5775 · In committee · Finance and Financial Sector

FCRA Liability Harmonization Act

Sponsor: Barry Loudermilk (R-GA)

What it does

• Eliminates unlimited punitive damages in civil actions against consumer credit reporting agencies for willful FCRA violations.
• Caps court costs and attorney fees that consumers can recover in FCRA willful or negligent noncompliance cases.
• Prohibits per-capita minimum damages for class members in FCRA class action lawsuits and limits total class recovery amounts.
• Allows consumer credit reporting agencies to avoid full liability exposure for FCRA violations by capping statutory and compensatory damages.

Official summary

FCRA Liability Harmonization Act This bill limits the amount of damages and costs consumer credit reporting agencies must pay for violations of the Fair Credit Reporting Act (FCRA), which regulates the use of consumer information for credit reporting purposes. Under FCRA, consumer credit reporting agencies may be found civilly liable to consumers for willful or negligent noncompliance. The bill eliminates the ability of courts to award unlimited punitive damages to a consumer for a consumer credit reporting agency’s willful noncompliance with FCRA. Regarding a consumer credit reporting agency’s willful or negligent noncompliance with FCRA, the bill limits the amount that may be awarded to consumers for court costs, and in class action lawsuits, specifically by prohibiting the court from applying a minimum amount of damages for each class member and by limiting the total recovery amount of the class.

Latest action

Jun 30, 2026: Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 23.

Committee: House Financial Services