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NOTICE
TO FURNISHERS OF INFORMATION:
OBLIGATIONS OF FURNISHERS UNDER THE FCRA
Duties
After Notice of Dispute from Consumer Reporting Agency If
a CRA notifies a furnisher that a consumer disputes the
completeness or accuracy of information provided by the
furnisher, the furnisher has a duty to follow certain procedures.
The furnisher must:
•
Conduct an investigation and review all relevant information
provided by the
CRA, including information given to the CRA by the consumer.
Sections
623(b)(1)(A) and (b)(1)(B).
•
Report the results to the CRA that referred the dispute,
and, if the investigation
establishes that the information was, in fact, incomplete
or inaccurate, report the
results to all CRAs to which the furnisher provided the
information that compile
and maintain files on a nationwide basis. Section 623(b)(1)(C)
and (b)(1)(D).
•
Complete the above steps within 30 days from the date the
CRA receives the
dispute (or 45 days, if the consumer later provides relevant
additional information
to the CRA). Section 623(b)(2).
•
Promptly modify or delete the information, or block its
reporting. Section
623(b)(1)(E).
Source:
Page 2, http://www.ftc.gov/os/2004/11/041119factaappg.pdf
If
a CRA notifies a furnisher that a consumer disputes the
completeness or accuracy of information provided by the
furnisher, the furnisher has a duty to follow certain procedures.
The furnisher must:
1.
Conduct an investigation and review all relevant information
provided by theCRA, including information given to the CRA
by the consumer.
2.
Report the results to the CRA that referred the dispute,
and, if the investigationestablishes that the information
was, in fact, incomplete or inaccurate, report theresults
to all CRAs to which the furnisher provided the information
that compileand maintain files on a nationwide basis.
3.
Complete the above steps within 30 days from the date the
CRA receives the dispute (or 45 days, if the consumer later
provides relevant additional information to the CRA).
4.
Promptly modify or delete the information, or block its
reporting.
5.
Take steps 1, 2 and 4
6.
Take steps 1, 2, 3 and 4
7.
Continue to report the information with a notation that
the consumer disputes the information
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