Furnisher obligations FACT Act final rule released

Section 312 of the FACT Act amended the Fair Credit Reporting Act (FCRA) to require the federal banking agencies and the Federal Trade Commission (Agencies) to issue guidelines for use by furnishers of information to consumer reporting agencies (CRAs) regarding the accuracy and integrity of the consumer information that they furnish to CRAs, and to prescribe regulations requiring furnishers to establish reasonable policies and procedures to implement the guidelines.