Consumer complaint received 2024-10-29
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: TRANSUNION INTERMEDIATE HOLDINGS, INC. (PA)

Thank you for participating in our complaint process. This complaint is now closed. 

COMPLAINT ID XXXX SUBMITTED ON XX/XX/2024 PRODUCT Credit card ISSUE Incorrect information on your Under the Fair Credit Reporting Act ( FCRA ), there are specific consumer rights regarding the accuracy of information on credit reports. Here are some key points : 1. Right to Accurate Information : The FCRA requires credit reporting agencies ( CRAs ) to maintain and report only accurate and up-to-date information on credit reports. If an item is found to be inaccurate, outdated, or unverifiable, it must be corrected or removed.

2. Dispute Process : If you find inaccurate information on your credit report, you have the right to dispute it with the CRA. The CRA then has 30 days to investigate the disputed information. During this period, they must verify the information with the source ( like a creditor ) or remove it if it cant be verified.

3. Reinvestigation Requirement : When you dispute information, the CRA must reinvestigate and correct or delete any information that is inaccurate, incomplete, or can not be verified. If the investigation reveals that the information is indeed inaccurate, it must be removed or corrected.

4. Obligation of Information Furnishers : Creditors or entities that report to CRAs ( known as furnishers ) are required to report accurate information. If they find an error, they must correct it with all CRAs to which they report. Furnishers must also respond to CRA inquiries about disputed items.

5. Outdated Information : Certain negative items must be removed after a certain period ( e.g., most delinquencies after seven years, bankruptcies after ten years ).

These laws ensure that consumers can dispute inaccurate information and that only verified, accurate details remain on credit reports.Here are the specific sections of the Fair Credit Reporting Act ( FCRA ), codified at 15 U.S. Code 1681 : 1. Accuracy of Information ( 1681e ( b ) ) : 15 U.S. Code 1681e ( b ) : This section requires credit reporting agencies to follow reasonable procedures to assure maximum possible accuracy of the information on a consumers report.

2. Consumer Disputes ( 1681i ) : 15 U.S. Code 1681i : This section outlines consumers rights to dispute inaccurate information. The credit reporting agency must investigate the disputed information and either verify, correct, or delete it within 30 days.

3. Duties of Furnishers of Information ( 1681s-2 ) : 15 U.S. Code 1681s-2 ( a ) : This section imposes obligations on furnishers to report accurate information to credit reporting agencies. 
15 U.S. Code 1681s-2 ( b ) : If a consumer disputes an item, this section requires furnishers to conduct an investigation and, if necessary, correct the information.

4. Limitations on Reporting Obsolete Information ( 1681c ) : 15 U.S. Code 1681c : This section mandates the removal of outdated information after a certain period ( e.g., seven years for most negative items, ten years for bankruptcies ).

5. Civil Liability for Willful or Negligent Noncompliance ( 1681n and 1681o ) : 15 U.S. Code 1681n : This section allows consumers to seek damages if there is willful noncompliance with FCRA requirements. 
15 U.S. Code 1681o : This section provides for damages if the noncompliance was negligent. 

These sections ensure that consumers have rights regarding the accuracy of their credit information and define the responsibilities of credit reporting agencies and furnishers. 

Why are you guys letting these people break the law