Banks Can't Decide What Triggers FCRA Investigation

Law360, New York (November 15, 2012, 1:07 PM EST) -- The Fair Credit Reporting Act determines what is necessary to trigger a duty to investigate a credit dispute, not a bank’s internal policies. In Boggio v. USAA Federal Savings Bank, No. 11-4040, 2012 U.S. App. LEXIS 20239 (6th Cir. Sept. 27, 2012), the Sixth Circuit rejected USAA’s argument that it was entitled to a police report and a fraud affidavit before it needed to do any investigation beyond a cursory review.

The case details were far from unique. When Frank and Sarah Boggio separated in 2006,...
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