Entities

Minnesota (1)

Laws

Fair Credit Reporting Act (FCRA) (16)

In 2007, CDIA successfully sued Minnesota over a law that would have prevented credit bureaus from sharing information with mortgage lenders that help save consumers money as they shop for a new or refinance mortgage. The U.S. District Court for Minnesota found, in looking specifically at the subject matter preemption of 15 U.S.C. § 1681t(b)(1)(A), that “the preemptive reach of FCRA is both broad and explicit” and held that the “‘subject matter’ of mortgage-trigger lists is unquestionably regulated by [the FCRA]”. Thus, “neither Minnesota nor any other state may prohibit or regulate their sale.” CDIA v. Swanson, U.S. District Court, D. Minn. (No. 07-CV-3376), at 7-8.