Bureau of Consumer Financial Protection Publishes Compliance Bulletin
This document highlights existing obligations under the Fair Credit Reporting Act for furnishers of consumer information to consumer reporting agencies. This document establishes and implements written policies and procedures regarding the accuracy and integrity of information furnished to all CRAs. In recent reviews of the furnishing practices of financial institutions, the Consumer Financial Protection Bureau found that some financial institutions are not compliant with their obligations with regard to furnishing to specialty CRAs, including the furnishing of deposit account information. The Bureau released this Compliance Bulletin on its Web site on February 3, 2016.
Click here to read Federal Register notice of this action.