Of course frivolous lawsuits are a thing, but this law is a fucking joke. It limits the TOTAL recovery of the CLASS to $500,000, not just for the lawsuit, but also of any following "series of class actions arising out of the same failure to comply".
Meaning that if they lose their court case, they can still continue to behave badly, and not face any additional fines once they hit that measly total.
Oh, and just in case that $500,000 might hit some small "mom-and-pop" credit reporting agency, the total damage that can be awarded (again IN TOTAL TO THE ENTIRE CLASS), is the lesser of $500,000 or 1% of the net worth of the person/corporation the suit is being brought against.
Meaning we are basically saying "you can't actually bring a suit against them that could cause them enough damage to actually change their shitty behavior"
Meaning that if they lose their court case, they can still continue to behave badly, and not face any additional fines once they hit that measly total.
Oh, and just in case that $500,000 might hit some small "mom-and-pop" credit reporting agency, the total damage that can be awarded (again IN TOTAL TO THE ENTIRE CLASS), is the lesser of $500,000 or 1% of the net worth of the person/corporation the suit is being brought against.
Meaning we are basically saying "you can't actually bring a suit against them that could cause them enough damage to actually change their shitty behavior"