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The Supreme Court decided 11/13/01 that § 618 of the Fair Credit Reporting Act, which establishes the statute of limitations for actions brought under the Act, does not implicitly incorporate the "discovery rule." It ruled that the discovery rule, whereby a statute of limitations is tolled, or suspended, until a plaintiff discovers an injury, is limited to only a few situations, such as medical malpractice and latent disease cases. Section 618 imposes a general, two-year statute of limitations, and contains an express exception only for cases of willful misrepresentation. This case is important to the wide spectrum of businesses that participate in and rely upon the credit reporting industry. In addition, the case is also important to all businesses with current or future tort exposure. Jones Day represented TRW in this case.

Lower court opinion: 225 F.3d 1063 (9th Cir. 2000)