Wednesday August 9, 2006 The FTC (Federal Trade Commission) and the Federal Reserve Board issued a joint report to Congress on compliance with the consumer dispute provisions of the Fair Credit Reporting Act.

According to a study conducted by the FTC and the Board, although consumer disputes are being processed within the statutory timeframe, there is some disagreement regarding the adequacy of the investigations performed by the Credit Reporting Agencies and the furnishers of information.

No action is being taken at this time as a result of the report but the FTC and the Board will continue to monitor the dispute process, possibly making recommendations for future action if appropriate.