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Accuracy and Integrity Policy/Procedure Requirements

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Does my financial institution have to have policies and procedures regarding accuracy and integrity of furnished information provided to CRA’s?

Under the CFPB’s Regulation V, each furnisher must establish and implement reasonable, written policies and procedures regarding the accuracy and integrity of information relating to consumers that it furnishes to a consumer reporting agency. These policies and procedures must consider the guidelines in Appendix E of the CFPB’s Regulation V and be reviewed and updated periodically.
Learn more about Jack Holzknecht’s webinar A Banker's Responsibility under FCRA

First published on 08/25/2019

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