Some Courts Hold That Completeness is Not Required

Maximum Possible Accuracy
David A. Szwak

Some Courts Hold That Completeness is Not Required

Postby David A. Szwak » Tue Nov 01, 2005 5:03 am

In reality, no credit reporting is truly complete. You can always say more about each item. The standard is accuracy at the time the item is posted. CRAs always post items when they are at a most negative point [bankruptcy filing; bankruptcy discharge order; entry of judgment, entry of tax lien, etc.]. They never go back and look for satisfaction of such items and report that independent of a dispute and forced reinvestigation. A misleading report is not accurate, even if techically accurate.

Roseman v. Retail Credit Co., [1977, E.D. Pa.] 428 F.Supp. 643
The court held that a consumer credit reporting agency did not render inaccurate, in violation of 1681e[b], a report on a job applicant, by including in the report an uncorroborated statement in which the applicant's former employer indicated that the applicant had resigned because of a cash shortage in the account for which he was responsible, without indicating in the report that the applicant had refused to sign a letter prepared by the employer stating that the applicant was resigning "because of cash shortages." The applicant contended that the incompleteness of the report caused the withdrawal of an employment offer by another company to which he had applied. The report, which also stated that the entire discrepancy was repaid by the plaintiff, was rechecked and verified with his former employer by the reporting agency. The court said that the report complied with the purpose of the FCRA.

Return to “Front End Duties of the Credit Reporting Agencies: 15 U.S.C. 1681e(b)”

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