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Federal enforcement notice for when a negative item comes back verified even though the CRA failed to follow the FCRA reinvestigation rules. Cites 15 U.S.C. §1681i requiring written notice within 5 business days after reinvestigation, and challenges the account as unvalidated because only the original creditor — the consumer — can validate the debt. Uses the Truth in Lending Act and the “credit device” statutory definition to force deletion of the accounts listed.
Federal enforcement notice for when a negative item comes back verified even though the CRA failed to follow the FCRA reinvestigation rules. Cites 15 U.S.C. §1681i requiring written notice within 5 business days after reinvestigation, and challenges the account as unvalidated because only the original creditor — the consumer — can validate the debt. Uses the Truth in Lending Act and the “credit device” statutory definition to force deletion of the accounts listed.