09/02/2026
Under the Fair Credit Reporting Act, 15 U.S.C. § 1681, Congress found there is a need to ensure consumer reporting agencies exercise their responsibilities with fairness, impartiality, and respect for the consumer’s right to privacy.
More importantly, 15 U.S.C. § 1681e(b) requires consumer reporting agencies to:
“follow reasonable procedures to assure maximum possible accuracy” of the information contained in consumer reports.
Read that again.
Maximum possible accuracy.
Not partial accuracy.
Not mostly accurate.
Not close enough.
Maximum possible accuracy.
So if an account is reporting inaccurately, incompletely, duplicated, mixed with another consumer’s file, or cannot be properly verified, you have the right to challenge that information.
Experian, Equifax, and TransUnion are reporting data that is furnished to them by creditors, lenders, debt buyers, and collection agencies.
The question becomes:
Can the information being reported meet the standard required under federal law?
Because inaccurate data can cost consumers:
• Mortgage approvals
• Auto loan approvals
• Credit card approvals
• Employment opportunities
• Housing opportunities
Your consumer report is one of the most important financial documents attached to your name.
Review it.
Understand it.
Challenge inaccuracies when appropriate.
Federal law requires accuracy.
