We have a customer who is asking the bank to remove a late payment a few months ago from his credit report because he says he's been struggling to make payment due to COVID-19. The problem is that this is the first time he has contacted us to say so. Looking at his payment history it appears to be a true statement, since he stopped making large principal only payments (which he has historically done) in the spring. My thought has always been that we need to report accurate information and the CARES Act does not seem to cover this scenario. What are your thoughts?

You are correct. You are required to report accurate information.