OCC / FCRA – 7. What would the nature of the information include?

Compliance > FCRA
Q:  What would the nature of the information include?
 
A:  The information would include that the consumer’s: credit history with another bank is poor; income is not what it is represented to be; period of employment, as specified on the application, is inaccurate; address is incorrect; debts are greater than represented; and statement that his/her debts are current is inaccurate. The nature of the information should be sufficient to enable the consumer to question its accuracy if he/she believes it is erroneous.
 
 
This Q&A was obtained from the Comptroller’s Handbook on Fair Credit Reporting that may be found here:  https://www.occ.gov/publications-and-resources/publications/comptrollers-handbook/files/fair-credit-reporting/index-fair-credit-reporting.html
 

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