FACTA: CRAs Must Investigate Upon Notice From Reseller

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FACTA: CRAs Must Investigate Upon Notice From Reseller

Postby Administrator » Sun Oct 02, 2005 7:41 pm

Agencies must reinvestigate upon notice from reseller.

The FCRA extends the responsibilities of agencies to reinvestigate consumer information by requiring them to reinvestigate upon notice from a reseller that a consumer has disputed the item; the agency must then report the results of its reinvestigation back to the reseller, who must then reconvey the results back to the consumer. This provision basically treats the reseller as a consumer for purposes of the agency’s reinvestigation responsibilities. States are preempted only from regulating the time requirements set for the agency’s actions.

Return to “FCRA Statute And Amendments: 15 U.S.C. 1681, et. seq.”

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