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#2260183 - 09/24/21 01:15 PM FCRA Policy
Anonymous
Unregistered

Is it a regulatory requirement (mandatory) to have a board-approved Accuracy and Integrity Policy under FACTA for credit bureau reporters?

Bank has detailed procedures.

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#2260185 - 09/24/21 01:42 PM Re: FCRA Policy Anonymous
InFairness, CRCM Offline
Platinum Poster
InFairness, CRCM
Joined: Nov 2010
Posts: 919
USA
Appendix E to Part 1022 contains the Interagency Guidelines Concerning the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies. A literal interpretation of 1022.42 would require a policy in addition to procedures, but I don't see an indication that the policy has to be board-approved.
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Opinions are strictly my own, and have nothing to do with my employer.

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