(DOWNLOAD) "Murray v. Gmac Mortgage Corp." by United States Court of Appeals for the District of Columbia Circuit. # eBook PDF Kindle ePub Free
eBook details
- Title: Murray v. Gmac Mortgage Corp.
- Author : United States Court of Appeals for the District of Columbia Circuit.
- Release Date : January 17, 2006
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
Shortly after her debts had been discharged in bankruptcy, Nancy Murray received a credit solicitation from GMAC Mortgage, which had learned her name and address by asking credit bureaus to forward information about potential borrowers who met specified criteria. GMACM offered Murray a loan to be secured by a mortgage on her home. Deluged by offers, Murray showed them to a lawyer, who concluded that GMACM had violated the Fair Credit Reporting Act in two ways: first, GMACM had not made the "firm offer of credit" that is essential when a potential lender accesses someones credit history without that persons consent, see 15 U.S.C. §1681b(c)(1)(B)(i); second, GMACMs offer did not include a "clear and conspicuous" notice of the recipients right to close her credit information to all who lacked her prior consent, see 15 U.S.C. §1681m(d)(1)(D). Murray filed suit, proposing to represent a class of about 1.2 million recipients of similar offers from GMACM and demanding statutory damages, which range from $100 to $1,000 per person. See 15 U.S.C. §1681n(a)(1)(A). A recent amendment to the Act abolishes private remedies for violations of the clear-disclosure requirement, which in the future will be enforced administratively, but that change does not apply to offers made before its effective date and thus does not affect this litigation. See 117 Stat. 1952, adding 15 U.S.C. §1681m(h)(8).
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