What (specific) section of the FCRA refers to when a CRA has 5 business days to place an account a consumer disputes in 'dispute' on your report? I know it's there, I'm just not seeing it....
§ 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i] (a) Reinvestigations of disputed information. (1) Reinvestigation required. (A) In general. If the completeness or accuracy of any item of information contained in a consumer's file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly of such dispute, the agency shall reinvestigate free of charge and record the current status of the disputed information, or delete the item from the file in accordance with paragraph (5), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer. (B) Extension of period to reinvestigate. Except as provided in subparagraph (C), the 30-day period described in subparagraph (A) may be extended for not more than 15 additional days if the consumer reporting agency receives information from the consumer during that 30-day period that is relevant to the reinvestigation. (C) Limitations on extension of period to reinvestigate. Subparagraph (B) shall not apply to any reinvestigation in which, during the 30-day period described in subparagraph (A), the information that is the subject of the reinvestigation is found to be inaccurate or incomplete or the consumer reporting agency determines that the information cannot be verified. (2) Prompt notice of dispute to furnisher of information. (A) In general. Before the expiration of the 5-business-day period beginning on the date on which a consumer reporting agency receives notice of a dispute from any consumer in accordance with paragraph (1), the agency shall provide notification of the dispute to any person who provided any item of information in dispute, at the address and in the manner established with the person. The notice shall include all relevant information regarding the dispute that the agency has received from the consumer. (B) Provision of other information from consumer. The consumer reporting agency shall promptly provide to the person who provided the information in dispute all relevant information regarding the dispute that is received by the agency from the consumer after the period referred to in subparagraph (A) and before the end of the period referred to in paragraph (1)(A). Section 2A
Thanks Erica. Now another question. This is an excerpt from above: "the agency shall provide notification of the dispute to any person who provided any item of information in dispute," The highlighted section, does this mean the CRA's only provide notification to the creditor/CA whose account the consumer is now disputing only? OR... Does this mean the CRA's provide notification to the creditor/CA as well as notification on a consumers credit report that the account is disputed by consumer? Now I'm starting to wonder...
Looks like they just notify whoever originally supplied the disputed information. This is just to prevent the CRA from waiting until day 25 to send the dispute out. As for when and how they are to provide notice on your report of disputed items, I think that's in a different section.
