Page:United States Statutes at Large Volume 117.djvu/2015

 117 STAT. 1996

PUBLIC LAW 108–159—DEC. 4, 2003 of reporting to a consumer reporting agency only, as appropriate, based on the results of the reinvestigation promptly— ‘‘(i) modify that item of information; ‘‘(ii) delete that item of information; or ‘‘(iii) permanently block the reporting of that item of information.’’.

SEC. 315. RECONCILING ADDRESSES.

Section 605 of the Fair Credit Reporting Act (15 U.S.C. 1681c), as amended by this Act, is amended by adding at the end the following: ‘‘(h) NOTICE OF DISCREPANCY IN ADDRESS.— ‘‘(1) IN GENERAL.—If a person has requested a consumer report relating to a consumer from a consumer reporting agency described in section 603(p), the request includes an address for the consumer that substantially differs from the addresses in the file of the consumer, and the agency provides a consumer report in response to the request, the consumer reporting agency shall notify the requester of the existence of the discrepancy. ‘‘(2) REGULATIONS.— ‘‘(A) REGULATIONS REQUIRED.—The Federal banking agencies, the National Credit Union Administration, and the Commission shall jointly, with respect to the entities that are subject to their respective enforcement authority under section 621, prescribe regulations providing guidance regarding reasonable policies and procedures that a user of a consumer report should employ when such user has received a notice of discrepancy under paragraph (1). ‘‘(B) POLICIES AND PROCEDURES TO BE INCLUDED.—The regulations prescribed under subparagraph (A) shall describe reasonable policies and procedures for use by a user of a consumer report— ‘‘(i) to form a reasonable belief that the user knows the identity of the person to whom the consumer report pertains; and ‘‘(ii) if the user establishes a continuing relationship with the consumer, and the user regularly and in the ordinary course of business furnishes information to the consumer reporting agency from which the notice of discrepancy pertaining to the consumer was obtained, to reconcile the address of the consumer with the consumer reporting agency by furnishing such address to such consumer reporting agency as part of information regularly furnished by the user for the period in which the relationship is established.’’. SEC. 316. NOTICE OF DISPUTE THROUGH RESELLER.

(a) REQUIREMENT FOR REINVESTIGATION OF DISPUTED INFORMATION UPON NOTICE FROM A RESELLER.—Section 611(a) of the Fair Credit Reporting Act (15 U.S.C. 1681i(a)(1)(A)) is amended— (1) in paragraph (1)(A)— (A) by striking ‘‘If the completeness’’ and inserting ‘‘Subject to subsection (f), if the completeness’’; (B) by inserting ‘‘, or indirectly through a reseller,’’ after ‘‘notifies the agency directly’’; and

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