For purposes of this subpart
and Appendix E of this part, the following definitions apply:
(a) Accuracy means that information that a furnisher
provides to a consumer reporting agency about an account or other
relationship with the consumer correctly:
(1) Reflects the terms of and liability
for the account or other relationship;
(2) Reflects the consumer’s performance
and other conduct with respect to the account or other relationship;
and
(3) Identifies the
appropriate consumer.
(b) Direct dispute means a dispute submitted directly to a furnisher (including a furnisher
that is a debt collector) by a consumer concerning the accuracy of
any information contained in a consumer report and pertaining to an
account or other relationship that the furnisher has or had with the
consumer.
(c) Furnisher means an entity
that furnishes information relating to consumers to one or more consumer
reporting agencies for inclusion in a consumer report. An entity is
not a furnisher when it:
(1) Provides information to a consumer
reporting agency solely to obtain a consumer report in accordance
with section 604(a) and (f) of the FCRA;
(2) Is acting as a “consumer reporting
agency” as defined in section 603(f) of the FCRA;
(3) Is a consumer to whom the furnished
information pertains; or
(4) Is a neighbor, friend, or associate of the consumer, or another
individual with whom the consumer is acquainted or who may have knowledge
about the consumer, and who provides information about the consumer’s
character, general reputation, personal characteristics, or mode of
living in response to a specific request from a consumer reporting
agency.
(d) Integrity means that
information that a furnisher provides to a consumer reporting agency
about an account or other relationship with the consumer:
(1) Is substantiated by the furnisher’s
records at the time it is furnished;
(2) Is furnished in a form and manner that
is designed to minimize the likelihood that the information may be
incorrectly reflected in a consumer report; and
(3) Includes the information in the furnisher’s
possession about the account or other relationship that the Bureau
has:
(i) Determined that the absence of which
would likely be materially misleading in evaluating a consumer’s creditworthiness,
credit standing, credit capacity, character, general reputation, personal
characteristics, or mode of living; and
(ii) Listed in section I.(b)(2)(iii)
of Appendix E of this part.
