California Consumer Finance Litigation : California Consumer Finance Litigation Lawyer & Attorney : O'Rielly & Roche Law Firm : San Francisco, Oakland, Bay Area, Los Angeles

The new rules for furnishers of credit reporting information take effect on July 1, 2010.  Subject to several exceptions, the rules implement two significant changes for furnishers. 

First, the rules require furnishers to implement reasonable written policies and procedures regarding the accuracy and integrity of consumer information.  Second, the rules require furnishers to conduct a reasonable investigation into disputes related to credit reporting submitted to a furnisher directly by a consumer.  The Fair Credit Reporting Act rules now in place require such an investigation only after a furnisher receives notice of dispute from a credit reporting agency.  Significantly, if a furnisher provides a specific correspondence address for such disputes, the furnisher need only respond to disputes submitted to that address.