FOR IMMEDIATE RELEASE
December 15, 2025
Consumer Data Industry Association Leads Coalition Supporting Critical FCRA Reform Legislation
Washington, D.C. – The Consumer Data Industry Association (CDIA) today announced the submission of a coalition letter to Congress strongly endorsing the FCRA Liability Harmonization Act (H.R. 5775). This important legislation, introduced by Representative Barry Loudermilk (GA), aims to align the Fair Credit Reporting Act with other financial consumer protection laws by establishing reasonable limits on liability in class action lawsuits.
The coalition letter, signed by 15 consumer and banking groups, emphasizes how the current FCRA framework creates an environment where businesses across multiple sectors face excessive litigation risk often based on technical violations rather than actual consumer harm.
“This legislation strikes a critical balance by preserving consumers’ ability to seek meaningful redress while curbing abusive litigation tactics that exploit an outdated law,” said Dan Smith, CDIA President and CEO. “We’re proud to have united such a broad coalition of organizations around this important reform effort.”
This legislation would cap statutory damages in class actions, eliminate punitive damages, and limit attorney’s fees. These are reforms that mirror provisions in other consumer protection statutes like the Equal Credit Opportunity Act, Electronic Fund Transfer Act, and Truth in Lending Act.
The coalition letter highlights that these reasonable reforms would help businesses focus resources on innovation and job creation rather than defending against opportunistic lawsuits, ultimately benefiting consumers through reduced costs and improved services.
The full letter and list of supporting organizations can be found here.
About CDIA: The Consumer Data Industry Association (CDIA) is the voice of the consumer reporting industry, representing consumer reporting agencies, including the nationwide credit bureaus, regional and specialized credit bureaus, background check and residential screening companies, and others. Founded in 1906, CDIA promotes the responsible use of consumer data to help consumers achieve their financial goals and to help businesses, governments, and volunteer organizations avoid fraud.
##
Contact:
Ben Corb
bcorb@cdiaonline.org
202.841.2701