Under FCRA, how long does a consumer reporting agency have to investigate a dispute?

Under the Fair Credit Reporting Act (FCRA), a consumer reporting agency is required to conduct an investigation of a dispute within a specific timeframe. The correct timeframe is 30 days from the date the agency receives the dispute. This period is designed to ensure that consumers have a relatively quick resolution to their claims regarding inaccuracies in their credit reports.

This 30-day window allows the agency sufficient time to verify the disputed information by contacting the creditor or data furnisher. If the investigation does not resolve the dispute by this deadline, the consumer may escalate their complaint or seek further legal remedies. The emphasis on a 30-day period underscores the importance of timely responses to consumer concerns regarding their credit history, thereby promoting accuracy and accountability within the credit reporting system.