Under the FACT Act, furnishers of information to CRAs do NOT need to provide a consumer notice.

• A. True
• B. False
• C. Not specified
• D. It depends

Answer: (A)

The main idea is that furnishers’ duties under the FACT Act are about reporting accurate information to credit reporting agencies and handling updates and disputes, not about sending a separate notice to each consumer just for furnishing data. The Act does not require furnishers to provide a consumer notice whenever they report information to a CRA. Notice to consumers in this area typically comes from other sources—such as lenders issuing adverse-action notices when credit is denied or altered, or the CRA providing your file information when you request a report or place safeguards like fraud alerts. So the statement that furnishers do not need to provide a consumer notice is correct.