Fair Credit Reporting: 10.7.1.1 Overall General Preemption Rule Is a Floor, Rather Than a Ceiling
By its express language, the general preemption rule under the FCRA provides that the Act does not preempt state law claims:
By its express language, the general preemption rule under the FCRA provides that the Act does not preempt state law claims:
The FCRA does preempt state law “to the extent that those laws are inconsistent with any provision of this title, and then only to the extent of the inconsistency.”264 State law is inconsistent, for preemption purposes, only where the actor would violate the FCRA by complying with the state statute.265 For example, a state fair credit reporting act that provided attorney fees to a prevailing CRA was held not to be preempted by the FCRA because a consumer could avoid the risk of becoming responsi
Fair Credit Reporting is available in both a print and a digital version. Print revisions are released every few years. The digital version is updated more frequently, as developments require, with all changes integrated into the text.
This treatise provides information and advice to attorneys and other advocates on various consumer reporting issues.
(a) Mortgage as security1
This section applies only to an obligation on real or personal property owned by a servicemember that—
(1) originated before the period of the servicemember’s military service and for which the servicemember is still obligated; and
(2) is secured by a mortgage, trust deed, or other security in the nature of a mortgage.
(a) Application for relief
A servicemember may, during military service or within 180 days of termination of or release from military service, apply to a court for relief—
(1) from any obligation or liability incurred by the servicemember before the servicemember’s military service; or
(2) from a tax or assessment falling due before or during the servicemember’s military service.
(a) Termination
(1) Termination by lessee
The lessee on a lease described in subsection (b) may, at the lessee’s option, terminate the lease at any time after—
(A) the lessee’s entry into military service; or
(B) the date of the lessee’s military orders described in paragraph (1)(B) or (2)(B) of subsection (b), as the case may be; or
(a) Residence or domicile
(1) In general
A servicemember shall neither lose nor acquire a residence or domicile for purposes of taxation with respect to the person, personal property, or income of the servicemember by reason of being absent or present in any tax jurisdiction of the United States solely in compliance with military orders.
(2) Spouses
(a) Termination by servicemember or dependent of a servicemember
(1) Termination
A servicemember may terminate a contract described in subsection (b) at any time after—
(A) the date the servicemember receives military orders to relocate for a period of not less than 90 days to a location that does not support the contract; or
For the purposes of this chapter:
(1) Servicemember
The term “servicemember” means a member of the uniformed services, as that term is defined in section 101(a)(5) of Title 10.
(2) Military service
The term “military service” means—
(A) in the case of a servicemember who is a member of the Army, Navy, Air Force, Marine Corps, or Coast Guard—
(a) Court action upon material affect determination
If a servicemember, in the opinion of the court, is materially affected by reason of military service in complying with a court judgment or order, the court may on its own motion and shall on application by the servicemember—
(1) stay the execution of any judgment or order entered against the servicemember; and
(a) Application
This section applies in any case in which a tax or assessment, whether general or special (other than a tax on personal income), falls due and remains unpaid before or during a period of military service with respect to a servicemember’s—
(1) personal property (including motor vehicles); or
(a) Appraisal of property
When a stay is granted pursuant to this chapter in a proceeding to foreclose a mortgage on or to repossess personal property, or to rescind or terminate a contract for the purchase of personal property, the court may appoint three disinterested parties to appraise the property.
(b) Equity payment
(a) Jurisdiction
This chapter applies to—
(1) the United States;
(2) each of the States, including the political subdivisions thereof; and
(3) all territory subject to the jurisdiction of the United States.
(b) Applicability to proceedings
(a) Automatic extension
A power of attorney of a servicemember shall be automatically extended for the period the servicemember is in a missing status (as defined in section 551(2) of Title 37) if the power of attorney—
(1) was duly executed by the servicemember—
(A) while in military service; or
(B) before entry into military service but after the servicemember—
(a) Period of stay
A stay of an action, proceeding, attachment, or execution made pursuant to the provisions of this chapter by a court may be ordered for the period of military service and 90 days thereafter, or for any part of that period. The court may set the terms and amounts for such installment payments as is considered reasonable by the court.
(b) Codefendants
(a) Deferral of tax
Upon notice to the Internal Revenue Service or the tax authority of a State or a political subdivision of a State, the collection of income tax on the income of a servicemember falling due before or during military service shall be deferred for a period not more than 180 days after termination of or release from military service, if a servicemember’s ability to pay such income tax is materially affected by military service.
(b) Accrual of interest or penalty
Application by a servicemember for, or receipt by a servicemember of, a stay, postponement, or suspension pursuant to this chapter in the payment of a tax, fine, penalty, insurance premium, or other civil obligation or liability of that servicemember shall not itself (without regard to other considerations) provide the basis for any of the following:
(1) A determination by a lender or other person that the servicemember is unable to pay the civil obligation or liability in accordance with its terms.
(a) Extension of protection when actions stayed, postponed, or suspended
(a) Reinstatement of health insurance
A servicemember who, by reason of military service as defined in section 4023(a)(1) of this title, is entitled to the rights and protections of this chapter shall also be entitled upon termination or release from such service to reinstatement of any health insurance that—
(1) was in effect on the day before such service commenced; and
(a) Tolling of statutes of limitation during military service
The period of a servicemember’s military service may not be included in computing any period limited by law, regulation, or order for the bringing of any action or proceeding in a court, or in any board, bureau, commission, department, or other agency of a State (or political subdivision of a State) or the United States by or against the servicemember or the servicemember’s heirs, executors, administrators, or assigns.
Why is it important to correct errors in my credit report?
One of the most important items in your financial life is your credit report. Your credit report contains information about where you live and work, how you pay your bills, whether you have been sued, had a lien filed against you, or have filed for bankruptcy. There are three major companies that gather and sell this information (Equifax, Experian, and TransUnion), sometimes called “credit reporting agencies” or “credit bureaus.”
This appendix contains three consumer guides on credit reports and credit scores. The first guide summarizes for consumers their basic rights under the Fair Credit Reporting Act. The second guide provides information for consumers regarding credit scores. The third describes why and how to dispute errors in a credit report.
If you have ever applied for a credit card, a personal loan, insurance, or a job, there is probably a company keeping a credit file or credit report about you. This file contains information about where you live and work, how you pay your bills, or whether you have been sued, had a lien filed against you, or have filed for bankruptcy.
Companies that gather and sell this information are called “Consumer Reporting Agencies.” The information sold by Consumer Reporting Agencies to creditors, employers, insurers, and other businesses is called a “credit report.”