FTC, CFPB File Brief in Fair Credit Case

By Staff Writer September 15, 2022

The Federal Trade Commission joined the Consumer Financial Protection Bureau in filing an amicus brief with the U.S. Court of Appeals for the Third District in the case of Ingram v. Experian. The brief asks the appeals court to overturn a lower court’s decision that could create an exception to the Fair Credit Reporting Act (FCRA) allowing furnishers of credit information to decline to investigate when consumers dispute inaccurate information. The brief argues that the holding could undercut a key protection provided by the FCRA that allows consumers to dispute and correct inaccurate information in their credit reports.

“The law gives consumers a right to dispute inaccurate information and have their claim investigated,” said Samuel Levine, director of the FTC’s Bureau of Consumer Protection. “The FTC-CFPB brief rejects the argument that there are circumstances when furnishers do not have to follow the law.”

The FCRA provides consumers with two avenues for disputing the accuracy of their credit information that furnishers provide to credit reporting agencies. Consumers can file a dispute directly with furnishers or file a dispute indirectly with the credit reporting agencies, which may refer the dispute to the furnishers.

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Last modified on Tuesday, 20 September 2022 14:53