When a consumer disputes the completeness or accuracy of their information, what must the CRA do?

When a consumer disputes the completeness or accuracy of their information, the Consumer Reporting Agency (CRA) is legally required to conduct a reasonable investigation into the accuracy of the disputed information. This obligation is rooted in the Fair Credit Reporting Act (FCRA), which mandates that CRAs respond to disputes in a timely and thorough manner.

Conducting a reasonable investigation means that the CRA must actively evaluate the disputed information, which may involve contacting the information provider or reviewing other relevant information to determine whether the data is accurate or needs to be corrected. The goal is to ensure that consumers' credit reports reflect accurate and complete information, thereby protecting their rights and creditworthiness.

Other options, while involving actions that might be considered in various scenarios, do not fulfill the legal requirements set out by the FCRA. For example, simply putting the dispute on hold does not address the need for investigation, and issuing a refund or informing the end user does not directly resolve the accuracy dispute. Therefore, performing a reasonable investigation is the essential and correct course of action that the CRA must take in response to disputes regarding consumer information.