PUBLIC LAW 108–159—DEC. 4, 2003
117 STAT. 1991
information contained in a consumer report on the consumer, based on a direct request of a consumer. ‘‘(B) CONSIDERATIONS.—In prescribing regulations under subparagraph (A), the agencies shall weigh— ‘‘(i) the benefits to consumers with the costs on furnishers and the credit reporting system; ‘‘(ii) the impact on the overall accuracy and integrity of consumer reports of any such requirements; ‘‘(iii) whether direct contact by the consumer with the furnisher would likely result in the most expeditious resolution of any such dispute; and ‘‘(iv) the potential impact on the credit reporting process if credit repair organizations, as defined in section 403(3), including entities that would be a credit repair organization, but for section 403(3)(B)(i), are able to circumvent the prohibition in subparagraph (G). ‘‘(C) APPLICABILITY.—Subparagraphs (D) through (G) shall apply in any circumstance identified under the regulations promulgated under subparagraph (A). ‘‘(D) SUBMITTING A NOTICE OF DISPUTE.—A consumer who seeks to dispute the accuracy of information shall provide a dispute notice directly to such person at the address specified by the person for such notices that— ‘‘(i) identifies the specific information that is being disputed; ‘‘(ii) explains the basis for the dispute; and ‘‘(iii) includes all supporting documentation required by the furnisher to substantiate the basis of the dispute. ‘‘(E) DUTY OF PERSON AFTER RECEIVING NOTICE OF DISPUTE.—After receiving a notice of dispute from a consumer pursuant to subparagraph (D), the person that provided the information in dispute to a consumer reporting agency shall— ‘‘(i) conduct an investigation with respect to the disputed information; ‘‘(ii) review all relevant information provided by the consumer with the notice; ‘‘(iii) complete such person’s investigation of the dispute and report the results of the investigation to the consumer before the expiration of the period under section 611(a)(1) within which a consumer reporting agency would be required to complete its action if the consumer had elected to dispute the information under that section; and ‘‘(iv) if the investigation finds that the information reported was inaccurate, promptly notify each consumer reporting agency to which the person furnished the inaccurate information of that determination and provide to the agency any correction to that information that is necessary to make the information provided by the person accurate. ‘‘(F) FRIVOLOUS OR IRRELEVANT DISPUTE.— ‘‘(i) IN GENERAL.—This paragraph shall not apply if the person receiving a notice of a dispute from a
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