Product: Credit reporting or other personal consumer reports

Dear Equifax, I recently received a copy of my credit report. To my surprise, you are reporting this account as inaccurate. Collections should not show a past-due balance. 
Under the Fair Credit Reporting Act ( FCRA ) and XXXX XXXX compliance standards, this reporting violates accuracy guidelines. This collection/charge-off account should not be reporting a past-due balance of {$860.00} as shown below. 

ACCOUNT NAME : XXXX XXXX : Past Due Balance {$860.00} ACCOUNT NUMBER : XXXX According to the FCRA XXXX I have the right to an accurate credit report. Please remove this account from my credit report immediately. Please provide me with a copy of my new credit report reflecting that this account was removed upon completion. 
Pursuant to my rights under the Fair Credit Reporting Act ( FCRA ), I request a thorough and prompt investigation into these inaccuracies, as required by federal law. 

I wish to draw your attention to a recent legal action initiated by the Consumer Financial Protection Bureau ( CFPB ) against Experian. The lawsuit highlights serious concerns regarding Experians failure to adequately investigate consumer disputes. Specifically, the CFPB cited the following unlawful practices : Conducting inadequate investigations that fail to properly address consumer disputes. 
Reinstating previously disputed and incorrect information without appropriate explanation. 
Failing to properly notify consumers of the results of investigations. 
These actions are indicative of systemic deficiencies that undermine consumer protection and contribute to the persistence of erroneous information on credit reports. I am concerned that my dispute may be subject to similar mishandling.

As a consumer reporting agency 15U.S.C. 1681a ( f ), you are governed by the Fair Credit Reporting Act ( FCRA ). 15 U.S.C. 1681, et seq., which protects consumers from inaccurate, outdated, or invalidated information reporting of their consumer file. The FCRA states that its the consumer reporting agencys responsibility to ensure that all information contained within consumer files is accurate and free from errors. Your company is regularly engaged in the business of assembling, evaluating, and disbursing information concerning consumers for the purpose of furnishing consumer reports, as defined in 15 U.S.C. {$1600.00} ( d ), to third parties. According to federal law, you are required to comply with the requirements imposed under the FCRA, 15 U.S.C. 1681 et seq., including but not limited to : 1 ) follow reasonable procedures to assure maximum possible accuracy of the information sent to consumer report, as required by 15 U.S.C. 1681e ( b ). This section imposes a high and often disregarded standards on consumer reporting agencies. See, e.g., XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( breaking down the requirements of 1681e ( b ), and explaining that assure means to make sure or certain : put beyond all doubt, means the greatest in quantity or highest degree attainable [, ] possible means something falling within the bounds of what may be done, occur or be conceived. ( quoting-Websters Third New International Dictionary XXXX XXXX XXXX XXXX XXXX XXXX  ). Under the Consumer Financial Protection Act, the CFPB has the authority to take action against violating consumer financial protection laws.

Courts have spoken on this topic. For example, in XXXX XXXX XXXX XXXX XXXX the court rejected a consumer reporting agency 's assertion that it had no obligation to compare facially inconsistent information contained in two of plaintiff 's consumer reports from different months because such an interpretation would make the consumer reporting agency simply a conduit and eliminate from the [ FCRA ] its emphasis on the reasonableness of the procedures followed in putting together a consumer report, contrary to Congressional intent. Courts have also indicated that the inclusion of facially false data inaccuracies on a consumer report may, in certain circumstances, evidence the unreasonableness of a consumer reporting agency 's procedures.

It continues to be the Bureau 's interpretation as outlined in this advisory opinion that such procedures are required, consistent with the core purpose of the FCRA as described in FCRA section 602 i.e., to require consumer reporting agencies to adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner that is fair and equitable to the consumer with regard to accuracy, among other responsibilities. This interpretation also aligns with the Federal Trade Commission 's 40 Years Report, which states that pursuant to 607 ( b ), a consumer reporting agency must maintain procedures to avoid reporting information with obvious logical inconsistencies, such as a credit account opened when the consumer was known to be a minor.

In addition to provisions authorizing Federal and State enforcement, the FCRA contains two provisions relating to civil liability to consumers for noncompliance. Section 617 provides that any person who is negligent in failing to comply with any requirement imposed under this title with respect to any consumer is liable to that consumer in an amount equal to the consumer 's actual damages, and costs and reasonable attorney 's fees. Section 616 provides that any person who willfully fails to comply with any requirement imposed under this title with respect to any consumer is liable to that consumer in an amount equal to actual or statutory damages of up to {$1000.00} per violation, such punitive damages as the court allows, and costs and reasonable attorney 's fees. A violation is willful when it is inconsistent with authoritative guidance from a relevant agency. As with any guidance issued by the CFPB on the FCRA, or predecessor agencies that were responsible for administering the FCRA prior to the CFPB 's creation, consumer reporting agencies risk liability under Section 616 if they violate the FCRA in a manner described in this Advisory Opinion, regardless of whether the consumer reporting agencies were previously liable for willful violations prior to its issuance.

FCRA VIOLATION, FCRA Violation : This misreporting violates Sections 623 ( a ) ( 1 ) ( A ) of the FCRA, which requires furnishers of information to provide accurate information. Section 623 ( e ). General Prohibition on Reporting Inaccurate Information The FCRA prohibits information furnishers from providing information to a CRA that they know or have reasonable cause to believe is inaccurate. However, the furnisher is not subject to this general prohibition if it clearly and conspicuously specifies an address to which consumers may write to notify the furnisher that certain information is inaccurate.

Sections 623 ( a ) ( 1 ) ( A ) and ( a ) ( 1 ) ( C ). Duty to Correct and Update Information If at any time a person who regularly and in the ordinary course of business furnishes information to one or more CRAs determines that the information provided is not complete or accurate, the furnisher must promptly provide complete and accurate information to the CRA. In addition, the furnisher must notify all CRAs that received the information of any corrections and must thereafter report only the complete and accurate information.

Section 623 ( a ) ( 2 ). Duties After Notice of Dispute from Consumer If a consumer notifies a furnisher, at an address specified by the furnisher for such notices, that specific information is inaccurate, and the information is, in fact, inaccurate, the furnisher must thereafter report the correct information to CRAs.

Section 623 ( a ) ( 1 ) ( B ). If a consumer notifies a furnisher that the consumer disputes the completeness or accuracy of any information reported by the furnisher, the furnisher may not subsequently report that information to a CRA without providing notice of the dispute.