9th Circuit Holds Fannie Mae Is Not Subject To FCRA, Reverses Decision

(January 11, 2019, 2:00 PM EST) -- SAN FRANCISCO — A divided panel of the Ninth Circuit U.S. Court of Appeals on Jan. 9 held that the Federal National Mortgage Association (Fannie Mae) is not a consumer reporting agency that is subject to the Fair Credit Reporting Act (FCRA), reversing a ruling for borrowers who alleged that Fannie Mae violated the FCRA by falsely communicated with lenders about their mortgages through its Desktop Underwriter (DU) platform (Richard Zabriskie, et al. v. Federal National Mortgage Association, No. 17-15807, 9th Cir., 2019 U.S. App. LEXIS 642)....

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