The OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) are
publishing these final rules to implement the accuracy and integrity
and direct dispute provisions in section 312 of the Fair and Accurate
Credit Transactions Act of 2003 (FACT Act) that amended section 623 of
the Fair Credit Reporting Act (FCRA). The final rules implement the
requirement that the Agencies issue guidelines for use by furnishers
regarding the accuracy and integrity of the information about consumers
that they furnish to consumer reporting agencies (CRAs) and prescribe
regulations requiring furnishers to establish reasonable policies and
procedures for implementing the guidelines. These final rules also
implement the requirement that the Agencies issue regulations
identifying the circumstances under which a furnisher must
reinvestigate disputes about the accuracy of information contained in a
consumer report based on a direct request from a consumer.
Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies
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