Consumer reporting, larger participants examination procedures
Updated Feb. 11, 2020
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This update to the consumer reporting, larger participants examination procedures incorporates new Fair Credit Reporting Act (FCRA) obligations created under the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). This update also added an examination conclusions and wrap-up module.
Summary
These examination procedures are intended for use in examining larger participants in the consumer reporting market. The procedures contain a series of modules, grouping similar requirements together. Each examination will cover one or more of the following modules:
- Entity
Business Model
- Accuracy of
Information and Furnisher Relations
- Contents of
Consumer Reports
- Permissible
Purposes and Other User Issues
- Consumer
File and Score Disclosures
- Consumer
Inquiries, Complaints, and Disputes and the Reinvestigation Process
- Consumer Alerts
and Identity Theft Provisions
- Prescreening, Employment Reports, and Investigative Consumer Reports
- Other Products and Services and Risks to Consumers
- Examination Conclusions and Wrap-up