You'd think I'd have this straight by now, but here goes: 1) Are creditors required by federal law to report accurately? (Or does the FCRA just apply to the CRAs?) 2) If you notify a creditor that it is reporting incorrect information, can the creditor reply it only will fix it if the CRAs investigate? Or if you notify the creditor that it is reporting incorrect information -- and it agrees the info is incorrect -- is it legally obligated to correct it, even if there is no CRA investigation? 3) If a creditor verifies incorrect information, what legal actions can be taken against it? Can it be fined for FCRA violations? 4) What legal authorities should be contacted if an original creditor continues to report and verify incorrect information? The FTC? The state attorney general (my state or the creditor's)? The appropriate banking regulator? Thanks. I have one creditor that has been admitting for almost a year that what's listed on my credit report is wrong. But everytime I dispute it with the CRAs, the creditor verifies the inaccurate information.
Re: original creditors and the (1) and (2) - A creditor is legally obligated to report ACCURATE information IF THEY CHOOSE TO REPORT AT ALL (they are not obligated TO report, but only obligated to report ACCURATE information). (3) Various. In a nutshell, yes, you can sue for, among other things, violation of the FCRA. (4) FTC, SAG of both states. Your best bet is to contact an attorney knowledgeable in credit and credit reporting.
