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#2140757 - 08/04/17 04:17 AM Direct Dispute
Tesla Offline
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Joined: Nov 2003
Posts: 3,726
I don't know if I am just late to the game or if I missing something, but I don't see anywhere in Reg V where a direct dispute has to be in writing. Even the section on providing an address says "if they submit a dispute". It doesn't say "if they submit a dispute in writing"...

That has me thinking verbal direct disputes are covered and I have been WRONG for many, many years. YIKES!
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#2140781 - 08/04/17 02:06 PM Re: Direct Dispute Tesla
Jade'sFire Offline
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Jade'sFire
Joined: Apr 2012
Posts: 369
Yaven IV
(c) Direct dispute address. A furnisher is required to investigate a direct dispute only if a consumer submits a dispute notice to the furnisher at:

(1) The address of a furnisher provided by a furnisher and set forth on a consumer report relating to the consumer;

(2) An address clearly and conspicuously specified by the furnisher for submitting direct disputes that is provided to the consumer in writing or electronically (if the consumer has agreed to the electronic delivery of information from the furnisher); or

(3) Any business address of the furnisher if the furnisher has not so specified and provided an address for submitting direct disputes under paragraphs (c)(1) or (2) of this section.
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#2140786 - 08/04/17 02:09 PM Re: Direct Dispute Tesla
Tesla Offline
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Posts: 3,726
Thanks Jade's Fire - but I don't see the word "written". I can "submit" a complaint verbally at a location specified as the address to submit direct disputes. Believe me I want to be wrong here. I have for years read this section as "written" direct dispute, but last night realized it doesn't say written anywhere.
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#2140788 - 08/04/17 02:13 PM Re: Direct Dispute Tesla
Jade'sFire Offline
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Jade'sFire
Joined: Apr 2012
Posts: 369
Yaven IV
I think it is important to outline how all disputes will be handled in your policies and procedures. For example: If you decide to only investigate and respond to disputes received at a designated address, do you have a process to direct consumers that provide a verbal dispute to provide a written dispute? Or do you have an online comment/question function where consumers can submit "written" requests electronically. It would be best to determine if your bank views e-disputes/emails as written disputes for this reg as well.
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#2140792 - 08/04/17 02:24 PM Re: Direct Dispute Tesla
Tesla Offline
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Joined: Nov 2003
Posts: 3,726
Understood, but I am being asked to opine if we are REQUIRED to follow FCRA for a verbal direct dispute. It seems a strict reading of the rule is yes. In the past, I had thought it was only if a written request was submitted and the business was trained to advise the caller/person to put their request in writing to preserve their rights under the FCRA. Most customers did not take the time to put the dispute in writing, so bankers started following the FCRA for verbal disputes. Now, someone is asking if that is required. It seems it might be. Do you (or does anyone) agree?
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It's not that I take life for granted. It's only that the good won't make it. Innocence dies, while Villany Thrives.

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#2141021 - 08/07/17 04:00 PM Re: Direct Dispute Tesla
Tesla Offline
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Joined: Nov 2003
Posts: 3,726
Anyone else have any thoughts on this?
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It's not that I take life for granted. It's only that the good won't make it. Innocence dies, while Villany Thrives.

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#2141041 - 08/07/17 04:49 PM Re: Direct Dispute Tesla
Beachbum, CRCM Offline
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Joined: Dec 2006
Posts: 499
Knee Deep in Regs
This may help your decision-
the Webster dictionary provides this definition for Submit: "to give (a document, proposal, piece of writing, etc.) to someone so that it can be considered or approved". To deliver formally.

I agree with Jade's Fire- this should be addressed in your policies and procedures.
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