On September 4, 2013, the CFPB released Bulletin 2013-09 reminding those persons who furnish consumer information to credit reporting companies of the person’s duty under the Fair Credit Reporting Act to fully investigate consumer disputes referred to the person by a consumer report company. For your convenience, the text of CFPB Bulletin 2013-09 is reprinted below: CFPB Bulletin 2013-09 Date: September 4, 2013 Subject: The FCRA’s requirement to investigate disputes and review “all relevant” information provided by consumer reporting agencies (CRAs) about the dispute The Fair Credit Reporting Act (FCRA) generally requires a consumer reporting agency (CRA) to notify a furnisher when a consumer disputes the accuracy or completeness of an item of information provided by the furnisher to the CRA.1 The CRA must also promptly provide the furnisher “all relevant information” regarding the dispute that the CRA timely received from the consumer.2 Download complete memorandum below
