FRB: Investigations of Disputed Consumer Information Reported to Consumer Reporting Agencies

ABA Contact: Nessa Feddis
Published: August 10, 2004 Federal Register
Comments Due: September 17, 2004
Disposition: Filed September 17, 2004


ABA comments that generally, while the vast majority of disputes about information furnished to consumer reporting agencies are received directly from consumer reporting agencies rather than consumers, banks treat all disputes similarly, investigating promptly and within the Fair Credit Reporting Act ("FCRA") timeframes. In many cases, the process of receiving disputes from consumer reporting agencies and responding is automated and works well. The consumer reporting agencies and the furnishers continue to seek improvements in all aspects of the consumer reporting process, including prompt resolution of disputes.  ABA strongly discourages any new requirements such as new forms or notices as they are unnecessary and will only add to the increasing regulatory burden.

2004 Regulations Chart
Federal Register
Comment Letter