Sec. 4. Improved dispute process for consumer reporting agencies
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Section 623 of the Fair Credit Reporting Act ( 15 U.S.C. 1681s–2 ) is amended— in subsection (a)(8)— in subparagraph (E)(ii), by inserting and consider after review ; and in subparagraph (F)— in clause (i)(II), by inserting , and does not include any new or additional information that would be relevant to a reinvestigation before the period at the end; and by adding at the end the following new clause: For purposes of clause (i)(II), the term new or additional information — means information of a type designated by the Bureau; and does not include information previously provided to the person. ; and in subsection (b)(1), by inserting and consider after review .
Section 611(a) of the Fair Credit Reporting Act ( 15 U.S.C. 1681i(a) ) is amended by adding at the end the following: Not later than 180 days after the date of enactment of this paragraph, the Bureau shall establish the position of credit reporting ombudsperson, whose specific duties shall include carrying out the Bureau’s responsibilities with respect to— resolving persistent errors that are not resolved in a timely manner by a consumer reporting agency; and enhancing oversight of consumer reporting agencies by— advising the Director of the Bureau, in consultation with the Office of Enforcement and the Office of Supervision of the Bureau, on any potential violations of paragraph
(5)or any other applicable law by a consumer reporting agency, including appropriate corrective action for such a violation; and making referrals to the Office of Supervision for supervisory action or the Office of Enforcement for enforcement action, as appropriate, in response to violations of paragraph
(5)or any other applicable law by a consumer reporting agency. The ombudsperson shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate an annual report including statistics and analysis on consumer complaints the Bureau receives relating to consumer reports, as well as a summary of the supervisory actions and enforcement actions taken with respect to consumer reporting agencies during the year covered by the report. . Section 611 of the Fair Credit Reporting Act ( 15 U.S.C. 1681i ) is amended— in subsection (a)— in paragraph (1), by adding at the end the following: Commensurate with the volume and complexity of disputes about which a consumer reporting agency receives notice, or reasonably anticipates to receive notice, under this paragraph, each consumer reporting agency shall— maintain sufficient personnel to conduct reinvestigations of those disputes; and provide training with respect to the personnel described in clause (i). ; in paragraph (6)(B)— by amending clause
(ii)to read as follows: a copy of the consumer’s file and a consumer report that is based upon such file as revised, including a description of the specific modification or deletion of information, as a result of the reinvestigation; ; by striking clause
(iii)and redesignating clauses
(iv)and
(v)as clauses
(vi)and (vii), respectively; by inserting after clause
(ii)the following: a description of the actions taken by the consumer reporting agency regarding the dispute; if applicable, contact information for any furnisher involved in responding to the dispute and a description of the role played by the furnisher in the reinvestigation process; the options available to the consumer if the consumer is dissatisfied with the result of the reinvestigation, including— submitting documents in support of the dispute; adding a consumer statement of dispute to the file of the consumer pursuant to subsection (b); filing a dispute with the furnisher pursuant to section 623(a)(8); and submitting a complaint against the consumer reporting agency or furnishers through the consumer complaint database of the Bureau or the State attorney general for the State in which the consumer resides; ; by striking paragraph
(7)and redesignating paragraph
(8)as paragraph (7); and in paragraph (7), as so redesignated, by striking paragraphs (2), (6), and
(7)and inserting paragraphs
(2)and
(6); and by adding at the end the following new subsection: A consumer reporting agency described in section 603(p) shall communicate with other consumer reporting agencies described in section 603(p) to ensure that a dispute initiated with one consumer reporting agency is noted in a file maintained by such other consumer reporting agencies. .
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- 15 USC 1681s–2
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