Rivera v. JPMorgan Chase Bank, N.A.
The Fair Credit Reporting Act (FCRA) requires a furnisher of information to credit reporting agencies to investigate when a consumer files a dispute with a credit reporting agency about the completeness or accuracy of information the furnisher provided. The FCRA also gives consumers the right to sue furnishers who violate this requirement. This case implicates the time within which consumers may seek redress for furnishers’ violation of their duty to investigate. The Bureau, joined by the FTC, filed an amicus brief arguing that an FCRA lawsuit alleging violation of a furnisher’s duty to investigate is timely if it is filed within the earlier of two years of the date the consumer discovered the furnisher’s failure to investigate and 5 years of the date of the violation. The brief argued that the date the consumer originally discovered incomplete or inaccurate information on his consumer report does not trigger the statute of limitations on a furnisher’s failure to investigate.