Improve Credit Reporting Accuracy & Efficiency

Insights from Michelle Macartney on how to overcome challenges with providing accurate consumer information to consumer reporting companies.

[Shared with permission from BAI, originally published January 24, 2023]

Providing accurate consumer information to credit reporting agencies can be challenging for financial services organizations due to the volume and complexity involved.  Establishing a Fair Credit Reporting Act (FCRA) center of excellence can help ensure credit reporting accuracy and reduce regulatory risk. It can also create greater operational efficiency and a more positive customer experience.

In this Q&A you’ll learn:

• Why credit reporting accuracy and disputes are pressing topics
• Current FCRA trends
• How governance and oversight differ from the compliance function
• How centralization helps lenders meet their current challenges
• How to establish a center of excellence