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HL Chronicle of Data Protection Privacy & Information Security News & Trends

Tag Archives: data furnisher

Posted in Financial Privacy

Regulations Imposing New Obligations on Entities Furnishing Information to Consumer Reporting Agencies Go into Effect on July 1

On July 1, 2010, final regulations will go into effect that impose new obligations on entities that furnish information about individuals (“data furnishers”) to consumer reporting agencies (“CRAs”) for use in reports about those individuals. These regulations require data furnishers to institute reasonable policies and procedures that (1) ensure the accuracy and integrity of furnished information and (2) allow individuals to formally dispute the correctness of certain information that is furnished about them to CRAs directly with the data furnisher.