FCRA Секція 623: Обов'язки постачальників даних

FCRA Section 623: Furnisher Responsibilities

Section 623 of the Fair Credit Reporting Act (15 U.S.C. § 1681s-2) places legal responsibilities on "furnishers" — the companies that provide your credit information to the bureaus. This includes banks, credit card companies, mortgage lenders, auto lenders, and collection agencies.

What Is a Furnisher?

A furnisher is any entity that reports information about your accounts to one or more of the three major credit bureaus. When your credit card company tells Equifax that you made a late payment, they are acting as a furnisher. Understanding this distinction is critical because Section 623 gives you the right to go directly to the source.

Key Obligations Under Section 623

Duty to Report Accurate Information

Furnishers are prohibited from reporting information they know (or should know) to be inaccurate. This includes:

Wrong account balances or credit limits

Incorrect payment history dates

Accounts that don't belong to you

Incorrect account status (open vs. closed, current vs. delinquent)

Duty to Investigate Disputes

When a consumer disputes information through a credit bureau (called an "indirect dispute") or directly to the furnisher (called a "direct dispute"), the furnisher must:

Conduct a reasonable investigation within 30 days

Review all relevant information provided by the consumer

Report the results to all credit bureaus they furnish to

Modify, delete, or permanently block the information if found inaccurate

Duty to Correct and Update

If a furnisher discovers it has been reporting inaccurate information, it must promptly notify all credit bureaus and correct the data — even if no consumer has filed a dispute.

How to File a Direct Dispute Under Section 623

A direct dispute goes straight to the furnisher, bypassing the credit bureau entirely:

Identify the furnisher — Find the creditor or collector's name and address on your credit report

Write a dispute letter — Clearly state what is inaccurate and why

Include evidence — Attach copies of documents that support your claim

Send via certified mail — Use return receipt requested for proof of delivery

Keep copies of everything — Document dates, contents, and tracking numbers

Section 623 vs Section 611

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When to Use Section 623

After a bureau dispute returns "verified" but you believe the item is still inaccurate

When you have documentation proving the furnisher's data is wrong

When the same furnisher reports different information to different bureaus

When a paid collection still shows as unpaid

Common Furnisher Violations

Continuing to report an account after receiving proof of identity theft

Failing to investigate a direct dispute within 30 days

Re-inserting previously deleted information without notifying you

Reporting an account as delinquent after it was included in a bankruptcy discharge

Penalties for Violations

Consumers can sue furnishers for willful or negligent violations:

Willful violations: $100-$1,000 statutory damages per violation, plus actual damages and attorney's fees

Negligent violations: Actual damages plus attorney's fees

CreditBooster leverages Section 623 direct disputes as a key part of our multi-pronged approach. When bureau disputes don't work, going directly to the furnisher often does. Start with our $1 credit scan.

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