Unknown. Consumer financial protection circular

5,015 words·~23 min read·/register/2022/11/23/2022-25138·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

--- schema: federal-register doc_type: fedreg source_file: FR-2022-11-23.xml --- 87 225 Wednesday, November 23, 2022 Contents Editorial Note: Due to technical issues, FR Doc. 2022-23584 published twice in the **Federal Register** of November 22, 2022, and FR Doc. 2022-23583 did not publish. FR Doc. 2022-23583 will publish in the issue of November 25, 2022. Agriculture Agriculture Department See Rural Business-Cooperative Service See Rural Utilities Service NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 71569-71571 2022-25503 Alcohol Tobacco Firearms Alcohol, Tobacco, Firearms, and Explosives Bureau NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: National Response Team Customer Satisfaction Survey, 71676-71677 2022-25505 Antitrust Division Antitrust Division NOTICES Changes under the National Cooperative Research and Production Act: Countering Weapons of Mass Destruction, 71680 2022-25456 National Armaments Consortium, 71678-71679 2022-25448 Naval Surface Technology and Innovation Consortium, 71677 2022-25499 Open Grid Alliance, Inc., 71678 2022-25454 Pistoia Alliance, Inc., 71680 2022-25497 RailPulse, LLC, 71678 2022-25492 Resilient Infrastructure and Secure Energy Consortium, 71679 2022-25455 Senior Healthcare Innovation Consortium, 71677-71678 2022-25498 TM Forum, 71679-71680 2022-25500 Consumer Financial Protection Bureau of Consumer Financial Protection RULES Consumer Financial Protection Circular 2022-07:

Reasonable Investigation of Consumer Reporting Disputes, 71507-71509 2022-25138 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 71586-71587 2022-25547 Fiscal Bureau of the Fiscal Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Application Form for U.S. Department of the Treasury Accountable Official Stored Value Card Program, 71737-71738 2022-25610 Application Forms for U.S. Department of the Treasury Stored Value Card Program, 71738-71739 2022-25608 Description of United States Savings Bonds Series HH/H and Description of United States Bonds/Notes, 71738 2022-25613 Direct Deposit, Go Direct, and Direct Express Sign-Up Forms, 71739-71740 2022-25533 Electronic Funds Transfer Market Research Study, 71740 2022-25611 Management of Federal Agency Disbursements, 71737 2022-25609 Request to Reissue United States Savings Bonds, 71739 2022-25612 Centers Disease Centers for Disease Control and Prevention NOTICES Meetings:

Advisory Committee on Immunization Practices, 71641-71642 2022-25538 Centers Medicare Centers for Medicare & Medicaid Services RULES Medicare Program: Hospital Outpatient Prospective Payment and Ambulatory Surgical Center Payment Systems and Quality Reporting Programs; Organ Acquisition; etc., 71748-72310 2022-23918 Coast Guard Coast Guard RULES Drawbridge Operation: Milford Haven, Hudgins, VA, 71517-71518 2022-25528 Security Zones: Corpus Christi Ship Channel, Corpus Christi, TX, 71518-71520 2022-25776 Commerce Commerce Department See Foreign-Trade Zones Board See International Trade Administration See National Oceanic and Atmospheric Administration See Patent and Trademark Office Copyright Office Copyright Office, Library of Congress NOTICES Study on Non-fungible Tokens and Related Intellectual Property Law Issues, 71584-71586 2022-25211 Corporation Corporation for National and Community Service NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals: AmeriCorps Program Life Cycle Evaluation—Climate Change Bundled Evaluation, 71587-71588 2022-25527 Defense Acquisition Defense Acquisition Regulations System NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Defense Federal Acquisition Regulation Supplement; Rights in Technical Data and Computer Software, 71588-71589 2022-25614 Defense Department Defense Department See Defense Acquisition Regulations System See Navy Department NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 71589-71591 2022-25579 2022-25580 Meetings: Defense Advisory Committee on Military Personnel Testing, 71589-71590 2022-25481 Education Department Education Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: American Rescue Plan Elementary and Secondary School Emergency Relief Homeless Children and Youth State Educational Agencies and Local Educational Agencies National Study Survey, 71593-71594 2022-25483 Federal Perkins Loan Program Regulations and General Provisions Regulations, 71593 2022-25519 Federal Perkins Loan, Federal Work-Study, and Federal Supplemental Educational Opportunity Grant Programs; 2022-23 Award Year Deadline Dates;

Correction, 71592-71593 2022-25515 Election Election Assistance Commission NOTICES Vacancy: Technical Guidelines Development Committee, 71594 2022-25624 Employee Benefits Employee Benefits Security Administration NOTICES Charter Amendments, Establishments, Renewals and Terminations: Advisory Council on Employee Welfare and Pension Benefit Plans, 71683 2022-25548 Energy Department Energy Department See Federal Energy Regulatory Commission Environmental Protection Environmental Protection Agency RULES 2,6-Pyridinedicarboxylic Acid:

Exemption from the Requirement of a Tolerance, 71523-71527 2022-25582 Control of Air Pollution from Aircraft Engines: Emission Standards and Test Procedures, 72312-72357 2022-25134 PROPOSED RULES Hazardous Waste Management System: Identification and Listing of Hazardous Waste, 71532-71539 2022-25213 NOTICES Adequacy Status: Motor Vehicle Emissions Budgets in New York Portion of the New York-Northern New Jersey-Long Island, NY-NJ-CT 2008 8-Hour Ozone Nonattainment Area, 71632-71633 2022-25605 Agency Information Collection Activities;

Proposals, Submissions, and Approvals: National Emission Standards for Hazardous Air Pollutants for Commercial Ethylene Oxide Sterilization and Fumigation Operations, 71633-71634 2022-25534 National Emission Standards for Hazardous Air Pollutants for Halogenated Solvent Cleaners/Halogenated Hazardous Air Pollutants, 71630-71631 2022-25577 National Emission Standards for Hazardous Air Pollutants for Perchloroethylene Dry Cleaning Facilities, 71629-71630 2022-25535 Polychlorinated Biphenyls:

Consolidated Reporting and Recordkeeping Requirements, 71634-71635 2022-25570 Certifying Authorities' Amended Plans for Certification of Commercial and Private Applicators of Restricted Use Pesticides: Approval Status; Batch One, 71628-71629 2022-25539 Meetings: Great Lakes Advisory Board, 71627-71628 2022-25565 Proposed Consent Decree: Clean Air Act Citizen Suit, 71631-71632 2022-25603 Federal Communications Federal Communications Commission PROPOSED RULES Emergency Alert System, Wireless Emergency Alerts:

Protecting the Nation's Communications Systems from Cybersecurity Threats, 71539-71557 2022-25263 NOTICES Meetings: Technological Advisory Council, 71635 2022-25607 Federal Emergency Federal Emergency Management Agency NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: FEMA Mitigation Grant Programs, 71657-71659 2022-25453 Hazard Mitigation Grant Program Application Reporting, 71659-71660 2022-25452 Federal Energy Federal Energy Regulatory Commission RULES Revised Filing and Reporting Requirements for Interstate Natural Gas Company Rate Schedules and Tariffs, 71511-71517 2022-25601 NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 71608-71610, 71623-71624 2022-25464 2022-25562 Application: Alice Falls Hydro, LLC, 71610-71611 2022-25590 Georgia Power Co., 71624-71627 2022-25591 2022-25594 2022-25595 Pacific Gas and Electric Co., 71620-71621 2022-25466 Combined Filings, 71605-71606, 71620-71623, 71625 2022-25459 2022-25557 2022-25558 2022-25597 2022-25598 Environmental Impact Statements; Availability, etc.: Transcontinental Gas Pipe Line Co.; Texas to Louisiana Energy Pathway Project, 71596-71601 2022-25465 Filing:

Western Area Power Administration, 71596, 71607-71608 2022-25555 2022-25556 Meetings: Fulcrum LLC, Ada County, ID, 71606-71607 2022-25463 Montana Department of Natural Resources and Conservation; Scoping and Environmental Site Review, 71611-71612 2022-25560 Scott's Mill Hydro, LLC; Technical Conference, 71608 2022-25559 Order Approving Reliability Standards: North American Electric Reliability Corp., 71602-71605 2022-25588 Proceeding to Consider Reopening License and Soliciting Comments, Motions to Intervene, and Protests:

Pacific Gas and Electric Co., 71601-71602 2022-25462 Registration of Inverter-Based Resources, 71612-71620 2022-25589 Request for Temporary Waiver: Rough Rider Operating, LLC, 71606 2022-25561 Request Under Blanket Authorization and Establishing Intervention and Protest Deadline: Columbia Gas Transmission, LLC, 71595-71596 2022-25596 Revision to Validation Error Codes Duplicative Version Numbers: Electronic Tariff Filings, 71594 2022-25602 Federal Maritime Federal Maritime Commission NOTICES Agreements Filed, 71635-71636 2022-25563 Federal Reserve Federal Reserve System NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 71636-71641 2022-25493 2022-25494 2022-25495 2022-25496 Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 71636 2022-25604 Proposals to Engage in or to Acquire Companies Engaged in Permissible Nonbanking Activities, 71641 2022-25458 Federal Trade Federal Trade Commission RULES Standards for Safeguarding Customer Information, 71509-71511 2022-25201 Fish Fish and Wildlife Service PROPOSED RULES Endangered and Threatened Species:

North American Wolverine Species Status Assessment, 71557-71559 2022-25433 Food and Drug Food and Drug Administration NOTICES Guidance: Compounding Certain Beta-Lactam Products in Shortage Under Section 503A of the Federal Food, Drug, and Cosmetic Act, 71654-71655 2022-25622 List of Bulk Drug Substances for Which There is a Clinical Need under the Federal Food, Drug, and Cosmetic Act, 71642-71652 2022-25549 Withdrawal of Approval of Drug Application: Bristol Myers Products Inc.;

Bufferin (Aspirin) Tablets; Opportunity for a Hearing, 71652-71654 2022-25516 Foreign Assets Foreign Assets Control Office NOTICES Sanctions Action, 71740-71741 2022-25467 Foreign Trade Foreign-Trade Zones Board NOTICES Proposed Production Activity: Moly-Cop USA, LLC, Foreign-Trade Zone 15, Kansas City, MO, 71577 2022-25506 Health and Human Health and Human Services Department See Centers for Disease Control and Prevention See Centers for Medicare & Medicaid Services See Food and Drug Administration See National Institutes of Health Homeland Homeland Security Department See Coast Guard See Federal Emergency Management Agency NOTICES Meetings:

President's National Infrastructure Advisory Council, 71660-71661 2022-25525 Housing Housing and Urban Development Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Comprehensive Transactional Forms Supporting Federal Housing Administration's Section 242 Mortgage Insurance Program for Hospitals, 71661-71665 2022-25514 Indian Affairs Indian Affairs Bureau NOTICES HEARTH Act Approval: Saginaw Chippewa Indian Tribe of Michigan Leasing Ordinance, 71665-71666 2022-25606 Indian Gaming:

Approval of Tribal-State Class III Gaming Compact in the State of California, 71666 2022-25615 2022-25617 Land Acquisitions: Tejon Tribe, Mettler Site, Kern County, CA, 71667-71668 2022-25618 White Earth Band of the Minnesota Chippewa Tribe, Minnesota, Buschelle Site, Clearwater County, MN, 71667 2022-25619 Interior Interior Department See Fish and Wildlife Service See Indian Affairs Bureau See Land Management Bureau See National Park Service Internal Revenue Internal Revenue Service NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 71741 2022-25478 International Trade Adm International Trade Administration NOTICES Antidumping or Countervailing Duty Investigations, Orders, or Reviews: Certain Cased Pencils from the People's Republic of China, 71582-71583 2022-25553 Certain Corrosion Inhibitors from the People's Republic of China, 71577-71579 2022-25501 Large Diameter Welded Pipe from Canada, 71580-71581 2022-25564 Meetings: Renewable Energy and Energy Efficiency Advisory Committee, 71581-71582 2022-25581 Requests for Nominations:

Advisory Committee on Supply Chain Competitiveness, 71579-71580 2022-25507 International Trade Com International Trade Commission NOTICES Investigations; Determinations, Modifications, and Rulings, etc.: Certain Smart Thermostats, Load Control Switches, and Components Thereof, 71675-71676 2022-25491 Justice Department Justice Department See Alcohol, Tobacco, Firearms, and Explosives Bureau See Antitrust Division NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 71681-71682 2022-25502 Agency Information Collection Activities;

Proposals, Submissions, and Approvals: Immigrant and Employee Rights Charge Form, 71680-71681 2022-25537 National Prisoner Statistics Program, 71682-71683 2022-25504 Labor Department Labor Department See Employee Benefits Security Administration See Occupational Safety and Health Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Certificate of Electrical Training and Applications for Approved Tests and State Tests Administered as Part of an Approved State Program, 71683-71684 2022-25550 Consumer Expenditure Surveys:

Quarterly Interview and Diary, 71684 2022-25551 Land Land Management Bureau NOTICES Application for Permanent Withdrawal and Transfer of Jurisdiction: Wyoming, 71668-71669 2022-25520 Library Library of Congress See Copyright Office, Library of Congress Millenium Millennium Challenge Corporation NOTICES Privacy Act; Systems of Records, 71687-71688 2022-25540 NASA National Aeronautics and Space Administration NOTICES Licenses; Exemptions, Applications, Amendments, etc.: Intent to Grant an Exclusive, Co-Exclusive or Partially Exclusive Patent License, 71688-71689 2022-25568 National Credit National Credit Union Administration NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 71689-71690 2022-25461 National Institute National Institutes of Health NOTICES Meetings: Center for Scientific Review, 71656-71657 2022-25517 2022-25569 National Institute of Allergy and Infectious Diseases, 71656 2022-25518 National Institute of Diabetes and Digestive and Kidney Diseases, 71655, 71657 2022-25479 2022-25521 National Institute of General Medical Sciences, 71656 2022-25480 National Oceanic National Oceanic and Atmospheric Administration RULES Fisheries of the Northeastern United States:

Amendment 20 to the Atlantic Surfclam and Ocean Quahog Fishery Management Plan, 71527-71530 2022-25469 PROPOSED RULES Fisheries of the Exclusive Economic Zone off Alaska: Amendment 124 to the BSAI FMP for Groundfish and Amendment 112 to the GOA FMP for Groundfish to Revise IFQ Program Regulations, 71559-71568 2022-25296 NOTICES Meetings: Ocean Exploration Advisory Board, 71583-71584 2022-25530 National Park National Park Service NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals: Case and Outbreak Investigation Data Collections, 71672-71673 2022-25543 Inventory Completion: Arizona State Museum, University of Arizona, Tucson, AZ, 71669-71670 2022-25572 Field Museum of Natural History, Chicago, IL, 71674-71675 2022-25573 U.S. Department of the Interior, Bureau of Land Management, Anchorage, AK, 71671-71674 2022-25574 2022-25575 University of California, Berkeley; Berkeley, CA, 71669 2022-25576 National Register of Historic Places:

Pending Nominations and Related Actions, 71670-71671 2022-25468 Repatriation of Cultural Items: Southern Ute Cultural Center and Museum, Ignacio, CO, 71674 2022-25571 National Science National Science Foundation NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 71690-71692 2022-25490 Meetings: Advisory Committee for Social, Behavioral and Economic Sciences, 71690 2022-25524 Navy Navy Department NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 71591-71592 2022-25578 Nuclear Regulatory Nuclear Regulatory Commission PROPOSED RULES Licensing Safety Analysis for Loss-of-Coolant Accidents, 71531-71532 2022-25523 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Application for Materials License and Forms, 71697-71699 2022-25484 Regulatory Issue Summary 2009-06, Revision 1, Importance of Giving the Advance Notice of Intent to Pursue License Renewal, 71696-71697 2022-25489 Special Nuclear Material and Source Material Physical Inventory Summary Report, and NUREG/BR-0096, Instructions and Guidance for Completing Physical Inventory Summary Reports, 71693-71694 2022-25488 Uniform Low-Level Radioactive Waste Manifest (Shipping Paper) and Continuation Page, 71692-71693 2022-25487 Uniform Low-Level Radioactive Waste Manifest Container and Waste Description and Continuation Page, 71694-71696 2022-25486 Uniform Low-Level Radioactive Waste Manifest Index and Regional Compact Tabulation and Continuation Page, 71699-71700 2022-25485 Occupational Safety Health Adm Occupational Safety and Health Administration NOTICES Nationally Recognized Testing Laboratories:

Eurofins Electrical and Electronic Testing NA, Inc. a/k/a MET Laboratories, Inc.; Application for Expansion of Recognition, 71684-71686 2022-25545 Requests for Nominations: Maritime Advisory Committee on Occupational Safety and Health, 71686-71687 2022-25546 Patent Patent and Trademark Office NOTICES Study on Non-fungible Tokens and Related Intellectual Property Law Issues, 71584-71586 2022-25211 Personnel Personnel Management Office NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals: Personnel Vetting Questionnaire, 71700-71704 2022-25566 Postal Service Postal Service RULES International Competitive Services Product and Price Changes, 71520-71523 2022-25482 Presidential Documents Presidential Documents PROCLAMATIONS Special Observances: National Child's Day (Proc. 10499), 71505-71506 2022-25740 National Family Week (Proc. 10498), 71503-71504 2022-25737 Rural Business Rural Business-Cooperative Service NOTICES Solicitation of Applications:

Rural Business Development Grant Programs for Fiscal Year 2023, 71571-71576 2022-25532 Rural Utilities Rural Utilities Service NOTICES Depreciation Rates for Telecommunications Plant, 71576-71577 2022-25477 Securities Securities and Exchange Commission NOTICES Application: Hennessy Funds Trust, et al., 71722 2022-25621 Self-Regulatory Organizations; Proposed Rule Changes: Miami International Securities Exchange, LLC, 71727-71731 2022-25473 MIAX PEARL, LLC, 71704-71712 2022-25471 Municipal Securities Rulemaking Board, 71719-71722, 71731-71734 2022-25475 2022-25476 NYSE National, Inc., 71722-71726 2022-25470 The Depository Trust Co.;

Fixed Income Clearing Corp.; National Securities Corp., 71714-71719 2022-25474 The Nasdaq Stock Market, LLC, 71712-71714 2022-25472 Small Business Small Business Administration NOTICES Disaster Declaration: Oklahoma, 71734 2022-25457 Social Social Security Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 71734-71736 2022-25620 State Department State Department NOTICES Meetings: Advisory Committee on International Law, 71736 2022-25567 Surface Transportation Surface Transportation Board NOTICES Exemption:

Acquisition; Revolution Rail Holding Co., LLC, Saratoga and North Creek Railway, LLC, 71736-71737 2022-25544 Treasury Treasury Department See Bureau of the Fiscal Service See Foreign Assets Control Office See Internal Revenue Service NOTICES Request for Information: Opportunities and Challenges in Federal Community Investment Programs, 71741-71744 2022-25552 Veteran Affairs Veterans Affairs Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals:

Employment Certification Form, 71744 2022-25623 Request for Details of Expenses, 71744-71745 2022-25616 Separate Parts In This Issue Part II Health and Human Services Department, Centers for Medicare & Medicaid Services, 71748-72310 2022-23918 Part III Environmental Protection Agency, 72312-72357 2022-25134 Reader Aids Consult the Reader Aids section at the end of this issue for phone numbers, online resources, finding aids, and notice of recently enacted public laws. To subscribe to the Federal Register Table of Contents electronic mailing list, go to https://public.govdelivery.com/accounts/USGPOOFR/subscriber/new, enter your e-mail address, then follow the instructions to join, leave, or manage your subscription. 87 225 Wednesday, November 23, 2022 Rules and Regulations BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Chapter X Consumer Financial Protection Circular 2022-07:

Reasonable Investigation of Consumer Reporting Disputes AGENCY: Bureau of Consumer Financial Protection. ACTION: Consumer financial protection circular. SUMMARY: The Consumer Financial Protection Bureau (Bureau or CFPB) has issued Consumer Financial Protection Circular 2022-07, titled, “Reasonable Investigation of Consumer Reporting Disputes.” In this circular, the Bureau responds to the questions, “1. Are consumer reporting agencies and the entities that furnish information to them (furnishers) permitted under the Fair Credit Reporting Act

(FCRA)to impose obstacles that deter submission of disputes? ” and “2. Do consumer reporting agencies need to forward to furnishers consumer-provided documents attached to a dispute? ” DATES: The Bureau released this circular on its website on November 10, 2022. ADDRESSES: Enforcers, and the broader public, can provide feedback and comments to *Circulars@cfpb.gov.* FOR FURTHER INFORMATION CONTACT: David Wake, Senior Counsel, at

(202)435-9613. If you require this document in an alternative electronic format, please contact *CFPB_Accessibility@cfpb.gov.* SUPPLEMENTARY INFORMATION: Questions Presented 1. Are consumer reporting agencies and the entities that furnish information to them (furnishers) permitted under the Fair Credit Reporting Act

(FCRA)to impose obstacles that deter submission of disputes? 2. Do consumer reporting agencies need to forward to furnishers consumer-provided documents attached to a dispute? Responses 1. No. Consumer reporting agencies and furnishers are liable under the FCRA if they fail to investigate any dispute that meets the statutory and regulatory requirements, as described in more detail below. Enforcers may bring claims if consumer reporting agencies and furnishers limit consumers' dispute rights by requiring any specific format or requiring any specific attachment such as a copy of a police report or consumer report beyond what the statute and regulations permit. 2. It depends. Enforcers may bring a claim if a consumer reporting agency fails to promptly provide to the furnisher “all relevant information” regarding the dispute that the consumer reporting agency receives from the consumer. While there is not an affirmative requirement to specifically provide original copies of documentation submitted by consumers, it would be difficult for a consumer reporting agency to prove they provided all relevant information if they fail to forward even an electronic image of documents that constitute a primary source of evidence. 1 1 Examples of primary sources of evidence include but are not limited to documents submitted by a consumer in support of a dispute such as copies of letters from creditors, bank statements, checks, or periodic billing statements. Background Information contained in consumer reports has critical effects on Americans' daily lives. Consumer reports are used to evaluate consumers' eligibility for loans and the interest rates they pay, their eligibility for insurance and the premiums they pay, their eligibility for rental housing, and their eligibility for checking accounts. Prospective employers commonly use consumer reports in their hiring decisions. 2 Given the importance of this information, Congress enacted the FCRA to “prevent consumers from being unjustly damaged because of inaccurate or arbitrary information in a credit report.” 3 2 *See generally* Consumer Financial Protection Bureau, *Key Dimensions and Processes in the U.S. Credit Reporting System* (2012), *https://files.consumerfinance.gov/f/201212_cfpb_credit-reporting-white-paper.pdf.* 3 S. Rep. No. 91-517, at 1 (1969). A central component of the protections against inaccurate information is the requirement to conduct a reasonable investigation of consumer disputes. Since its enactment, the FCRA has required consumer reporting agencies to investigate consumer disputes. 4 To further ensure that consumer reports are accurate, in 1996 Congress amended the FCRA to also impose “duties on the sources that provide credit information to CRAs [consumer reporting agencies], called `furnishers' in the statute.” 5 Thus, when consumer reporting agencies and furnishers are properly notified of a dispute about information furnished in a consumer report, both consumer reporting agencies and furnishers must conduct a reasonable investigation of the dispute. 6 4 84 Stat. 1114, 1132 (Oct. 26, 1970). 5 *Gorman* v. *Wolpoff & Abramson, LLP,* 584 F.3d 1147, 1153 (9th Cir. 2009). 6 *See, e.g.,* 15 U.S.C. 1681i(a)(1)(A) (Consumer reporting agency obligation to “conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate”); 15 U.S.C. 1681s-2(b)(1) (furnisher obligation to “conduct an investigation with respect to the disputed information” for disputes provided by a consumer reporting agency); 12 CFR 1022.43(e)(1) (furnisher obligation to “conduct a reasonable investigation with respect to the disputed information” for disputes sent directly from a consumer); *see also Johnson* v. *MBNA America Bank, NA,* 357 F.3d 426, 431 (4th Cir. 2004) (holding that furnishers receiving indirect disputes from consumer reporting agencies must “conduct a reasonable investigation of their records to determine whether the disputed information can be verified”). These responsibilities are part of the FCRA's overall framework for ensuring accuracy in consumer reports. Consumers are in a good position to identify inaccurate information in their consumer reports, and timely and responsive investigations of these identified inaccuracies is crucial to the FCRA's purpose of ensuring fair and accurate consumer reporting. Despite Congress's repeated efforts to promote accuracy by requiring reasonable investigation of disputes, consumers continue to report problems with accuracy and dispute investigations. Between January and September 2021, the CFPB received more than 500,000 complaints about credit or consumer reporting; the most common issue they identified was incorrect information on a credit report. 7 In each of the past three calendar years, the top two most frequently identified issues in complaints submitted to the CFPB were “Incorrect information on your report” and “Problem with a credit reporting company's investigation into an existing problem.” 7 *See* Consumer Financial Protection Bureau, * Annual Report of Credit and Consumer Reporting Complaints * (Jan. 2022), at 21, 30, *https://files.consumerfinance.gov/f/documents/cfpb_fcra-611-e_report_2022-01.pdf.* Figure 1: Credit or Consumer Reporting Complaints to the CFPB 2019-2021 ER23NO22.176 The CFPB is responsible for issuing rules and enforcing compliance with these provisions of the FCRA. 8 The FCRA can also be enforced by other Federal government agencies and States, 9 and through private actions brought by consumers. 10 The CFPB is issuing this *Circular* to emphasize that certain practices involving the failure to conduct a reasonable investigation of disputes can violate the FCRA. 8 *See, e.g.,* 12 U.S.C. 5481(12)(F), 5512(b), 5514(c), 5515(c), and also Subtitle E (12 U.S.C. 5561-5567); 15 U.S.C. 1681s(b)(1)(H), (e). Authority over 15 U.S.C. 1681m(e) and 1681w are limited to the Federal banking agencies, the NCUA, the FTC, the CFTC, and SEC. 9 15 U.S.C. 1681s. States can directly bring actions under FCRA. *See* 12 U.S.C. 1681s(c). States can also bring actions under the Consumer Financial Protection Act

(CFPA)against “covered persons” and “service providers” based upon violations of Federal consumer financial laws, including the FCRA. *See* Authority of States to Enforce the Consumer Financial Protection Act of 2010, 87 FR 31940 (May 26, 2022). 10 15 U.S.C. 1681n, 1681 *o.* Analysis *Consumer reporting agencies and furnishers cannot avoid the obligation to conduct a reasonable investigation of disputes by making consumers satisfy demands other than those specified by statute or regulation.* The CFPB is aware that consumer reporting agencies and furnishers have sought to evade the obligation to investigate disputes by requiring consumers to submit particular items of information or documentation with a dispute before the entity will conduct its investigation of the dispute. Examples of this conduct include: • Consumer reporting agencies that require a consumer to provide a recent copy of the consumer's report or file disclosure before investigating disputes despite the consumer providing sufficient information to investigate the disputed information; 11 11 *See, e.g.,* Consumer Financial Protection Bureau, *Supervisory Highlights* (Spring 2014), at 10, *https://files.consumerfinance.gov/f/201405_cfpb_supervisory-highlights-spring-2014.pdf.* • Furnishers that require a consumer to provide additional specific documents even though the consumer has already provided the supporting documentation or other information reasonably required to substantiate the basis of a direct dispute; 12 and 12 *See, e.g.,* Complaint at 15, *CFPB* v. *Fair Collections & Outsourcing, Inc.,* D. Md. No. 19-Civ-2817 (Filed Sept. 25, 2019). • Consumer reporting agencies or furnishers that require a consumer to attach a completed proprietary form before investigating the consumer's dispute. 13 13 With respect to furnisher direct disputes, *see* 74 FR 31,484, 31,500 (July 1, 2009) (“Some industry commenters also suggested that the Agencies issue a model direct dispute complaint form, with some advocating that consumers be required to use the model complaint form. The Agencies decline to adopt these suggestions because such requirements would cause otherwise valid disputes to be rejected as frivolous or irrelevant due solely to the consumer's failure to meet a technical requirement that probably would be unknown to the consumer.”). Enforcers may consider bringing an action under the FCRA when furnishers and consumer reporting agencies require consumers to provide documentation or proof documents, other than as described in the statute or regulation, as a precondition to investigation. For disputes received directly from a consumer, a consumer reporting agency or furnisher must reasonably investigate the dispute unless they have reasonably determined that the dispute is frivolous or irrelevant. 14 If such a determination is made, the consumer reporting agency or furnisher must notify the consumer of such determination within five business days of the determination and identify the additional information needed from the consumer to investigate the dispute. 15 Further, furnishers are not permitted to deem disputes as frivolous or irrelevant if the dispute has been provided to the furnisher from a consumer reporting agency pursuant to FCRA section 623(b). 16 14 15 U.S.C. 1681i(a)(3)(A) (identifying which disputes the consumer reporting agency can determine to be frivolous or irrelevant); 12 CFR 1022.43(f)(1) (identifying which disputes the furnisher can determine to be frivolous or irrelevant). 15 15 U.S.C. 1681i(a)(3) (Consumer reporting agency frivolous or irrelevant determination); 12 CFR 1022.43(f) (furnisher direct dispute frivolous or irrelevant determination). 16 15 U.S.C. 1681s-2(b). *See* Brief for Consumer Financial Protection Bureau and Federal Trade Commission as Amici Curiae Supporting Plaintiff-Appellant, *Ingram* v. *Waypoint Resource Group, LLC,* Third Circuit Court of Appeals (No. 21-2430). Accordingly, consumer reporting agencies and furnishers must reasonably investigate disputes received directly from consumers that are not frivolous or irrelevant—and furnishers must reasonably investigate all indirect disputes received from consumer reporting agencies—even if such disputes do not include the entity's preferred format, preferred intake forms, or preferred documentation or forms. *Consumer reporting agencies must provide to the furnisher all relevant information regarding the dispute that it received from the consumer.* Enforcers may bring a claim if a consumer reporting agency fails to promptly provide to the furnisher “all relevant information” regarding the dispute that the consumer reporting agency receives from the consumer. 17 Through its supervision, the CFPB has found that consumer reporting agencies tend to ingest dispute information from consumers using automated protocols, and they also share dispute information with furnishers electronically. 18 The use of these technologies has reduced the cost and time to transmit relevant information. 17 15 U.S.C. 1681i(a)(2)(A). 18 Consumer Financial Protection Bureau, *Bulletin 2013-09* (Sept. 4, 2013), at 1, *https://files.consumerfinance.gov/f/201309_cfpb_bulletin_furnishers.pdf* (alerting furnishers to the fact that consumer reporting agencies have begun forwarding images of relevant documentation to furnishers as part of the reasonable investigation of disputes). When transmitting information about a dispute, a consumer reporting agency may be able to demonstrate that it has transmitted “all relevant information” even if it does not provide original documents in paper form. However, given that primary sources of evidence provided by consumers can be dispositive in determining whether there has been a furnishing error, and given that the character of a primary source of evidence is probative and thus relevant to the investigation, 19 it will be difficult for a consumer reporting agency to prove that it complied with the FCRA if it does not provide electronic images of primary evidence for evaluation by the furnisher. 20 19 For example, a copy of a bill supporting the consumer's dispute conveys information regarding the persuasiveness of a consumer's dispute that data about the bill would not. 20 Federal Trade Commission, 40 Years of Experience with the Fair Credit Reporting Act: An FTC Staff Report with Summary of Interpretations (July 2011), at 77, *https://www.ftc.gov/sites/default/files/documents/reports/40-years-experience-fair-credit-reporting-act-ftc-staff-report-summary-interpretations/110720fcrareport.pdf* (“A CRA does not comply with this provision if it merely indicates the nature of the dispute, without communicating to the furnisher the specific relevant information received from the consumer. For example, if the consumer claimed “never late” and submitted documentation (such as cancelled checks) to support his/her dispute, a CRA does not comply with the requirement that is provide “all relevant information” if it simply notifies the furnisher that the consumer disputes the payment history without communicating the evidence received.”). The consumer reporting agency's failure to provide the furnisher with all relevant information limits the *furnisher's* ability to reasonably investigate the dispute. A furnisher must “review all relevant information” provided by the consumer reporting agency. 21 Accordingly, consumer reporting agency compliance with the obligation to provide all relevant information is crucial to the consumer's right to have their dispute reasonably investigated. 21 15 U.S.C. 1681s-2(b)(1)(B). About Consumer Financial Protection Circulars *Consumer Financial Protection Circulars* are issued to all parties with authority to enforce Federal consumer financial law. The CFPB is the principal Federal regulator responsible for administering Federal consumer financial law, *see* 12 U.S.C. 5511, including the Consumer Financial Protection Act's prohibition on unfair, deceptive, and abusive acts or practices, 12 U.S.C. 5536(a)(1)(B), and 18 other “enumerated consumer laws,” 12 U.S.C. 5481(12). However, these laws are also enforced by State attorneys general and State regulators, 12 U.S.C. 5552, and prudential regulators including the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the National Credit Union Administration. *See, e.g.,* 12 U.S.C. 5516(d), 5581(c)(2) (exclusive enforcement authority for banks and credit unions with $10 billion or less in assets). Some Federal consumer financial laws are also enforceable by other Federal agencies, including the Department of Justice and the Federal Trade Commission, the Farm Credit Administration, the Department of Transportation, and the Department of Agriculture. In addition, some of these laws provide for private enforcement. *Consumer Financial Protection Circulars* are intended to promote consistency in approach across the various enforcement agencies and parties, pursuant to the CFPB's statutory objective to ensure Federal consumer financial law is enforced consistently. 12 U.S.C. 5511(b)(4). *Consumer Financial Protection Circulars* are also intended to provide transparency to partner agencies regarding the CFPB's intended approach when cooperating in enforcement actions. *See, e.g.,* 12 U.S.C. 5552(b) (consultation with CFPB by State attorneys general and regulators); 12 U.S.C. 5562(a) (joint investigatory work between CFPB and other agencies). *Consumer Financial Protection Circulars* are general statements of policy under the Administrative Procedure Act. 5 U.S.C. 553(b). They provide background information about applicable law, articulate considerations relevant to the Bureau's exercise of its authorities, and, in the interest of maintaining consistency, advise other parties with authority to enforce Federal consumer financial law. They do not restrict the Bureau's exercise of its authorities, impose any legal requirements on external parties, or create or confer any rights on external parties that could be enforceable in any administrative or civil proceeding. The CFPB Director is instructing CFPB staff as described herein, and the CFPB will then make final decisions on individual matters based on an assessment of the factual record, applicable law, and factors relevant to prosecutorial discretion. Rohit Chopra, Director, Consumer Financial Protection Bureau. [FR Doc. 2022-25138 Filed 11-22-22; 8:45 am]

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