By Aug. 12, 2018, thousands of furnishers of credit information may have to significantly alter their policies, procedures, and processes as a result of a massive, multistate investigation and subsequent legal agreement between three of the largest U.S. credit reporting agencies—TransUnion, Experian, and Equifax—and31 state attorneys general.
The settlement, which responds to growing consumer complaints about credit-report inaccuracies, does not amend any Fair Credit Reporting Act (FCRA) laws.
