Here's the just-released transcript of this morning's oral arguments in the FCRA cases. A post-argument report from the Financial Times relays the business community's take on the arguments: "A majority of the justices on Tuesday seemed reluctant to adopt an expansive interpretation of a federal credit reporting law that the US Chamber of Commerce and others warned could lead to an explosion of class action lawsuits against US businesses, and many billions of dollars in damages . . . 'The court seemed sympathetic to the concerns of the business community,' said Robin Conrad of the US Chamber of Commerce."
Along the same lines, an AP report sums up the case this way: "Several Supreme Court justices seemed taken aback . . . at the idea that insurance companies might be required to notify tens of millions of customers they aren't getting the best rates because of their credit reports."
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