What is the responsibility of data furnishers under the FCRA?

The responsibility of data furnishers under the Fair Credit Reporting Act (FCRA) primarily involves ensuring the accuracy of the information they provide to credit reporting agencies. This means data furnishers must take reasonable steps to ensure that the data they report is truthful, accurate, and complete.

When data furnishers submit information about a consumer's credit history, they need to verify that all details, such as payment history, account status, and any other pertinent data, are correct and not misleading. This obligation helps maintain the integrity of consumer credit reports, which play a critical role in determining creditworthiness, thereby affecting consumers' financial opportunities.

In contrast, providing only positive information, charging consumers for credit scores, or managing consumer disputes directly are not accurate representations of the responsibilities outlined for data furnishers under the FCRA.