E-Oscar disputes-Send customer a letter also?

Posted By: Likes to Comply

E-Oscar disputes-Send customer a letter also? - 10/21/20 01:05 PM

Does a FI have to also send a letter to the customer regarding any resolution or confirmed accuracy of information for credit reporting disputes received from the credit reporting agency? Or is responding to the CRA all that is necessary?
Posted By: Adam Witmer

Re: E-Oscar disputes-Send customer a letter also? - 10/21/20 02:47 PM

623(a)(6)(a): (A) Reasonable procedures. A person that furnishes information to any consumer reporting agency shall have in place reasonable procedures to respond to any notification that it receives from a consumer reporting agency under section 605B relating to information resulting from identity theft, to prevent that person from refurnishing such blocked information.
Posted By: rlcarey

Re: E-Oscar disputes-Send customer a letter also? - 10/21/20 03:02 PM

Actually, if you read through Section 611, the CRB has all of the consumer notification responsibilities, if the consumer went to them directly.
Posted By: Likes to Comply

Re: E-Oscar disputes-Send customer a letter also? - 10/21/20 03:24 PM

Thanks!