CCRA

The Consumer Credit Reform Act (CCRA), which will probably pass both the House and the Senate later this year, should make it easier for consumers to check their records and correct any errors. Part of the requirements are that credit bureaus will have 30 days to complete investigations of suspected errors; each credit bureau must have an 800 number for consumer inquiries; and each credit bureau must make a copy of the credit report available to the consumer each year for no more than an $8 charge.

Copyright © 1994 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 5, No. 1, 8/94