Lenders must “reasonably” investigate consumer complaints under the Fair Credit Reporting Act
by Erich Paetsch, Chair, Financial Services Industry Group Recently, the Ninth Circuit Court of Appeals in Gross v. CitiMortgage considered the extent to which financial institutions furnishing consumer credit information to reporting agencies must investigate consumer disputes. The Court reaffirmed an earlier decision that requires “furnishers” to conduct investigations that must be at least “reasonable” …