A data furnisher is an entity that reports information about consumers to consumer reporting agencies (CRAs), which may include credit bureaus, tenant screening companies, check verification services, medical information services, etc. Like CRAs and data users, data furnishers have legal obligations and rules under the Fair Credit Reporting Act (FCRA). The rules are identical in substance with the Federal Trade Commission’s (FTC) Rule (click here to view a summary of the FTC Rule).
In general, under the Fair Credit Reporting Act, furnishers who furnish information about consumers to consumer reporting agencies must:
- Provide complete and accurate information to the credit reporting agencies
- Investigate consumer disputes received from credit reporting agencies
- Correct, delete, or verify information within 30 or 45 days of receipt of a dispute.