A Consumer Reporting Agency (CRA) must address disputes within how many days?

A Consumer Reporting Agency (CRA) is required to address disputes within 30 days of receiving a consumer's dispute. This time frame is established under the Fair Credit Reporting Act (FCRA), which mandates that CRAs investigate the disputed information in a timely manner to ensure that consumers can maintain accurate credit reports.

This 30-day period is crucial as it allows consumers to have confidence in the accuracy of their credit profiles, which can significantly impact their ability to secure loans and other forms of credit. If the investigation is completed within this time frame and the information is found to be inaccurate, the CRA must correct the report accordingly. This consumer protection is vital in maintaining the integrity of the credit reporting system and ensuring that individuals are treated fairly in their financial dealings. The established timeline reflects the balance between thorough investigation practices and the necessity for prompt resolution for consumers.