A debt collection agency, Credit Protection Association (CPA), settled with the Federal Trade Commission (FTC) this week for its violations of the Fair Credit Report Act (FCRA) for $72,000. In the FTC’s complaint, the FTC said that CPA failed to follow the Furnisher’s Rule of the FCRA by not having policies and procedures in place to handle consumer disputes; it did not have a policy in place to notify consumers of the outcomes of investigations as required by the FCRA; and CPA failed to inform consumers whether their information had been corrected after a dispute had been received. Director of the FTC’s Bureau of Consumer Protection, Jessica Rich, said, “Companies that fail to live up to [the FCRA] obligations can expect to hear from the FTC.” In addition to paying $72,000 in civil penalties, CPA will also be required to put the appropriate policies and procedures in place to ensure compliance with the FCRA.

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