Consumer Bureau Weighs in on Credit Dispute Process

Consumer Bureau Weighs in on Credit Dispute Process Today, the Consumer Financial Protection Bureau warned furnishers of credit and credit bureaus that they must improve their methods of investigating consumer disputes. Specifically, the Bureau states that the credit bureaus must send documentation to the furnishers, which is something they never do. However, probably under pressure from the Bureau, the bureaus have said they would begin to send documents to furnishers as part of the dispute process. Here is the text of the Consumer Bureau’s announcement: The Fair Credit Reporting Act (FCRA) generally requires a consumer reporting agency (CRA) to notify...

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