Podcast
Questions and Answers
What are the two main purposes of the Fair Credit Reporting Act (FCRA) as mentioned in the text?
What are the two main purposes of the Fair Credit Reporting Act (FCRA) as mentioned in the text?
- Promoting credit bureaus' power and influence in the financial industry
- Enforcing debt collection procedures and ensuring fair treatment of creditors
- Regulating the interest rates on credit cards and providing financial assistance to individuals
- Providing people a means to see their credit reports and a mechanism to make changes for errors on the report (correct)
What is the major factor that contributed to the power of credit bureaus, as discussed in the text?
What is the major factor that contributed to the power of credit bureaus, as discussed in the text?
- Government regulations favoring credit bureaus
- Lack of access and lack of accountability to customers or fiduciary duty (correct)
- Extensive marketing and advertising campaigns
- Highly trained and skilled workforce
What problem did the Fair Credit Reporting Act (FCRA) aim to address?
What problem did the Fair Credit Reporting Act (FCRA) aim to address?
- Privacy issues and potential abuses such as untrue reports of delinquency (correct)
- Inadequate credit reporting by bureaus
- Overregulation of the credit industry
- Unfair treatment of creditors by debtors
What is the consequence of money going to the owners of a business, as mentioned in the text?
What is the consequence of money going to the owners of a business, as mentioned in the text?
What type of invasion of privacy is alleged in the case of Poston v. Burns?
What type of invasion of privacy is alleged in the case of Poston v. Burns?
Which type of information is not considered private for the purposes of invasion of privacy?
Which type of information is not considered private for the purposes of invasion of privacy?
What are the remedies for violating the right to privacy in Wisconsin?
What are the remedies for violating the right to privacy in Wisconsin?
What does Wisconsin Statute § 995.50 outline the right to privacy?
What does Wisconsin Statute § 995.50 outline the right to privacy?
What did the lower court rule in the case of Poston v. Burns?
What did the lower court rule in the case of Poston v. Burns?
What does the right to privacy law not affect?
What does the right to privacy law not affect?
What is necessary to establish for a 'place' invasion of privacy?
What is necessary to establish for a 'place' invasion of privacy?
What does disclosure of private information to a small group or even a single person satisfy?
What does disclosure of private information to a small group or even a single person satisfy?
What was the focus of the trial in the case of Poston v. Burns?
What was the focus of the trial in the case of Poston v. Burns?
What would constitute a 'place' violation in the context of invasion of privacy?
What would constitute a 'place' violation in the context of invasion of privacy?
What is not codified and is an evolving concept?
What is not codified and is an evolving concept?
What alone is not considered private for the purposes of invasion of privacy?
What alone is not considered private for the purposes of invasion of privacy?
Under the Fair Credit Reporting Act (FCRA), what does the act focus on?
Under the Fair Credit Reporting Act (FCRA), what does the act focus on?
Which case led to the elimination of usury laws in many states?
Which case led to the elimination of usury laws in many states?
What does the Wisconsin Consumer Act (WCA) regulate?
What does the Wisconsin Consumer Act (WCA) regulate?
When does the WCA apply to a transaction?
When does the WCA apply to a transaction?
In Wisconsin, can a creditor seek to collect from a spouse of the debtor?
In Wisconsin, can a creditor seek to collect from a spouse of the debtor?
According to Kett v. Community Credit Plan, does intent need to be proven for a WCA violation?
According to Kett v. Community Credit Plan, does intent need to be proven for a WCA violation?
Is there a specific limit on the number of times a creditor can contact a debtor without violating the WCA?
Is there a specific limit on the number of times a creditor can contact a debtor without violating the WCA?
What must a creditor do under the WCA when a debt is reported to a credit reporting agency?
What must a creditor do under the WCA when a debt is reported to a credit reporting agency?
What can a debtor recover for a WCA violation?
What can a debtor recover for a WCA violation?
Can a debtor recover reasonable attorney’s fees for a WCA violation by the creditor?
Can a debtor recover reasonable attorney’s fees for a WCA violation by the creditor?
In Wisconsin, can invasion of privacy be the basis for a lawsuit?
In Wisconsin, can invasion of privacy be the basis for a lawsuit?
Study Notes
Consumer Protection Laws in Wisconsin
- The Fair Credit Reporting Act (FCRA) focuses on confidentiality, accuracy, relevancy, and proper utilization of credit information.
- Usury laws, which regulate interest rates, have been eliminated in many states due to the Marquette Nat. Bank of Minneapolis v. First of Omaha case.
- The Wisconsin Consumer Act (WCA) is the only state statute in the country for the citizens of Wisconsin, regulating merchant debt collection conduct and requiring certain disclosures to consumers.
- The WCA applies to a transaction when there is a consumer contracting with a merchant for personal, family, or household purposes, involving property, services, or credit.
- In Wisconsin, a creditor can seek to collect from a spouse of the debtor due to the state being a marital property state.
- Intent does not need to be proven for a WCA violation, according to Kett v. Community Credit Plan.
- There is no specific limit on the number of times a creditor can contact a debtor without violating the WCA, but approximately one call per week is considered acceptable.
- Under the WCA, a creditor must report a debt as disputed when it is reported to a credit reporting agency, and failure to do so is a violation.
- A debtor can recover actual damages, emotional distress damages, and statutory damages for a WCA violation, including at least $100 as a penalty.
- A debtor can recover reasonable attorney’s fees for a WCA violation by the creditor.
- Invasion of privacy can be the basis for a lawsuit in Wisconsin, and the state has specific statutes covering four types of invasion of privacy.
- The right to privacy is not explicitly mentioned in the U.S. Constitution, but the Court has interpreted many amendments as establishing a federal right to privacy.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge of consumer protection laws in Wisconsin with this quiz. Explore topics such as the Fair Credit Reporting Act, usury laws, the Wisconsin Consumer Act, creditor-debtor relationships, and invasion of privacy statutes in the state.
