If the reported history of an account shows â??charged offâ? in April 1997, the Fair Credit Reporting Act allows for it to be reported in the consumers file until seven years later or March 2004 in this example. The credit reporting agency has added the notation to the history â??This account is scheduled to continue on record until August 2008.â? If the consumer requested an investigation but the account notation remained unchanged, is the CRA in violation of Â§605 of the Fair Credit Reporting Act only after March 2004 or for any report which produced referencing inaccurate August 2008 notation? Thoughts?