What must consumer reporting agencies do when they receive a dispute from a consumer?

When a consumer reporting agency receives a dispute from a consumer, the primary responsibility is to conduct an investigation to verify the accuracy of the disputed information. This requirement is grounded in the Fair Credit Reporting Act (FCRA), which mandates that agencies must take consumer disputes seriously and take appropriate action to ensure the integrity of the information they provide. The investigation must be done in a timely manner, generally within 30 days, but the critical step is the verification process that the agency must undertake.

This process typically involves reviewing the consumer's dispute and examining the relevant data that supports or contradicts the claim. The outcome of the investigation will determine whether the disputed information is corrected, deleted, or remains unchanged. This duty of diligence safeguards consumers' rights, ensuring that credit reporting is fair and accurate.

Options that suggest ignoring disputes or prioritizing the opinions of creditors over direct investigations do not align with the obligations set forth in the FCRA. Moreover, while responding to the consumer within a certain timeframe is important, the key action is the investigation itself, making it the most central requirement upon receiving a dispute.