FAIR CREDIT REPORTING ACT
Two important duties of data furnishers under the Fair Credit Reporting Act
Data furnishers have two important duties under the Fair Credit Reporting Act (the "FCRA"):
(1) the duty to provide accurate information [§ 1681s–2(a)]; and,
(2) the duty to undertake an investigation upon receipt of notice of dispute from a consumer reporting agency [§ 1681s–2(b)].”
Section 1681e(b) of the Act states; “Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates.”
Exceptions to duties to investigate a consumer's dispute under the FCRA
A data furnisher is not required to conduct an investigation of a consumer's dispute if it is related to:
the consumer's identifying information;
the consumer's past or present employers;
inquiries or requests for a consumer report;
information derived from public records;
information relating to fraud alerts or active duty alerts; or
information provided to a CRA by another data furnisher.
If you have been sued for violating the Federal Credit Reporting Act, you should contact an attorney experienced in defending against FCRA lawsuits.
Ernest H. "Skip" Kohlmyer, III is a highly experienced litigator who represents corporations, collection agencies, debt buyers, and credit reporting agencies accused of violating the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), and the Telephone Consumer Protection Act (TCPA).
Call Skip Kohlmyer at 407.622.1772 today to schedule a consultation.