Reporting Loans to Credit Bureau

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Question:

Are you required to report all loans to a credit bureau? If you are reporting to a credit bureau are you required to report all loans?

Answer:

The FCRA does not require you to report loans to a credit bureau, only that if you do the information must be accurate. You will need to check your contract with the credit reporting agencies. This is usually where the reporting requirements come into play.

First published on BankersOnline.com 5/16/05