What action must a reporting agency take if a consumer challenges the accuracy of their report under the Fair Credit Reporting Act?

Under the Fair Credit Reporting Act (FCRA), when a consumer challenges the accuracy of information in their credit report, the reporting agency is required to respond to the consumer's complaint. This means that the agency must investigate the disputed information and correct any inaccuracies found during that process.

The primary responsibility of a credit reporting agency is to ensure that the information they provide is accurate and up to date. If a consumer believes there is an error, they have the right to dispute that information, and the agency must take appropriate steps to address the concern. This includes reviewing the claim, investigating the details involved, and notifying the consumer of the findings. Supporting the rights of consumers and maintaining the integrity of credit reporting are key objectives of the FCRA, hence the obligation for agencies to respond promptly and thoroughly to disputes.