H.R. 2359 · 115th Congress
FCRA Liability Harmonization Act
- Stage
- In committee
- Sponsor
- Barry Loudermilk
- Introduced
- 2017-05-04
- Latest action
- 2017-09-07 · Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Summary
FCRA Liability Harmonization Act
This bill amends the Fair Credit Reporting Act to limit the recovery amount available in a class action lawsuit to the lesser of $500,000 or 1% of the net worth of the defendant. The bill also eliminates the awarding of punitive damages.