|Received:||5/22/2006 5:27:08 PM|
|Subject:||Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies|
|Title:||Advance Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Parts 660 and 661|
Comments:B7: (circumstances in which direct contact would likely NOT result in the most expeditious resolution of any dispute...) Consumers are experiencing great difficulty with data brokers such as ChoicePoint or LexisNexis acting as furnishers of information to the CRAs. These businesses are largely non-responsive to consumer disputes. Furthermore, the CRAs generally don't reveal who has reported the information on the consumer when reported by these types of companies. They make it appear that a court has reported a judgment, for example, when the court in fact does NOT report to CRAs at all. When consumers dispute, the CRA apparently verifies with the data broker, who may not conduct any reinvestigation at all, as evidenced by the continued inaccurate reporting of public records that have been vacated, paid, updated, etc. Consumers are being confused and grossly misled by this practice. Any information reported by a data broker should indicate the name, address, and dispute contact info for that data broker. It should be clear who is reporting the info and how to contact them. They should also be required to reinvestigate and provide all documentation to the consumer to prove that they have reinvestigated and are reporting only complete and accurate information.