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How is "complete" reporting defined?


FreeaAndClear
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I am combing through some trade lines for a Jack attack. The FCRA requires accurate and complete reporting. Does anyone know how "complete" reporting is defined?

 

Is it ok for some or most of the available fields on the CR to be blank?

 

If there is a zero in a field that should have an amount be defined as incomplete?

 

For example, date of last payment from an OC is shown correctly but the amount is shown as zero. That is probably defined as inaccurate, not incomplete, right?

 

Are there certain fields that are mandatory?

 

Happy Holidays everyone!

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See FTC interpretations, esp. pg. 76.

 

http://www.ftc.gov/sites/default/files/documents/reports/40-years-experience-fair-credit-reporting-act-ftc-staff-report-summary-interpretations/110720fcrareport.pdf

 

Not all fields have to be filled in but any report must be materially complete and not inaccurately reflect the state of an account.. For example a balance due must be updated to reflect payments made.

Edited by cashnocredit
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