(1)If the completeness or
accuracy of any item of information contained in the consumer's file is disputed by
the consumer and the consumer notifies the consumer reporting agency directly of
the dispute, the agency shall reinvestigate the item free of charge and record the
current status of the disputed information on or before thirty business days after
the date the agency receives notice conveyed by the consumer. The consumer
reporting agency shall provide the consumer with the option of speaking directly to
a representative of the agency to notify the agency of disputed information
contained in the consumer's file.
(2)On or before five business days after the date a consumer reporting
agency receives notice of a dispute from a consumer in accordance with subsection
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(1) If the completeness or
accuracy of any item of information contained in the consumer's file is disputed by
the consumer and the consumer notifies the consumer reporting agency directly of
the dispute, the agency shall reinvestigate the item free of charge and record the
current status of the disputed information on or before thirty business days after
the date the agency receives notice conveyed by the consumer. The consumer
reporting agency shall provide the consumer with the option of speaking directly to
a representative of the agency to notify the agency of disputed information
contained in the consumer's file.
(2) On or before five business days after the date a consumer reporting
agency receives notice of a dispute from a consumer in accordance with subsection
(1) of this section, the agency shall provide notice of the dispute to all persons who
provided any item of information in dispute.
(3) Notwithstanding subsection (1) of this section, a consumer reporting
agency may terminate a reinvestigation of information disputed by a consumer
under subsection (1) if the agency reasonably determines that the consumer's
dispute is frivolous or irrelevant. Upon making such a determination, a consumer
reporting agency shall promptly notify the consumer of its determination and
reasons, by mail, or if authorized by the consumer for that purpose, by telephone.
The presence of contradictory information in the consumer's file does not in and of
itself constitute reasonable grounds for determining the dispute is frivolous or
irrelevant.
(4) If, after a reinvestigation under subsection (1) of this section of any
information disputed by a consumer, the information is inaccurate or cannot be
verified, the consumer reporting agency shall promptly delete the information from
the consumer's file, revise the file, provide the consumer and, at the request of the
consumer, any person that, within the last twelve months, requested the disputed
information with a revised consumer report indicating that it is a revised consumer
report, and refrain from reporting the information in subsequent reports. The
consumer reporting agency shall advise the consumer that he or she has the right
to have a copy of the revised consumer report sent by the consumer reporting
agency to any person that requested the disputed information within the last
twelve months.
(5) Information deleted pursuant to subsection (4) of this section may not be
reinserted in the consumer's file unless the person who furnishes the information
reinvestigates and states in writing or by electronic record to the consumer
reporting agency that the information is complete and accurate.
(6) A consumer reporting agency shall provide written notice of the results
of any reinvestigation or reinsertion made pursuant to this section within five
business days of the completion of the reinvestigation or reinsertion. The notice
shall include:
(a) A statement that the reinvestigation is complete;
(b) A statement of the determination of the consumer reporting agency on
the completeness or accuracy of the disputed information;
(c) A copy of the consumer's file or consumer report and a description of the
results of the reinvestigation;
(d) A notice that, if requested by the consumer, a description of the
procedure used to determine the accuracy and completeness of the information
shall be provided to the consumer by the consumer reporting agency, including the
name, business address, and, if available, the telephone number of any person
contacted in connection with that information;
(e) A notification that the consumer has the right, pursuant to the applicable
provisions of the federal Fair Credit Reporting Act, 15 U.S.C. sec. 1681i, as
amended, to add a statement to the consumer's file disputing the accuracy or
completeness of the information; and
(f) A notification of the consumer's rights to dispute resolution under section
5-18-116, which are available after the consumer has followed all dispute
procedures described in this section and has received the notice specified under
this subsection (6).
(7) Nothing in this section shall be construed to require a person who obtains
a consumer report for resale to alter or correct any inaccuracy in the consumer
report if the consumer report was not assembled or prepared by the person.
(8) The consumer reporting agency shall provide a person who provides
credit information to the agency with the option to speak directly with a
representative of the agency or to submit corrections to previously reported
information by facsimile or other automated means when inaccurate information
that was reported by the credit information provider appears on a consumer's file.
The consumer reporting agency shall, in a period not to exceed five business days
from the receipt of the faxed or automated information regarding the corrections,
correct the inaccuracies on the consumer's file and, upon request, communicate the
corrections to the person who submitted the initial request for corrections. The
credit information provider's communication shall include information established
by the consumer reporting agency that identifies him or her as the credit
information provider who provided the original inaccurate information. Nothing in
this subsection (8) shall be construed to prohibit a consumer reporting agency from
correcting inaccurate information in a consumer's file or a consumer report at any
time.