IMPROVED DISCLOSURE OF THE RESULTS OF REINVESTIGATION.

SEC. 314. IMPROVED DISCLOSURE OF THE RESULTS OF REINVESTIGATION.(a) In General.—Section 611(a)(5)(A) of the Fair Credit Reporting Act (15 U.S.C. 1681i(a)(5)(A)) is amended by striking “shall” and all that follows through the end of the subparagraph, and inserting the following: “shall—“(i) promptly delete that item of information from the file of the consumer, or modify that item of information, as appropriate, based on the results of the reinvestigation; and“(ii) promptly notify the furnisher of that information that the information has been modified or deleted from the file of the consumer.”.(b) Furnisher Requirements Relating to Inaccurate, Incomplete, or Unverifiable Information.—Section 623(b)(1) of the Fair Credit Reporting Act (15 U.S.C. 1681s–2(b)(1)) is amended—(1) in subparagraph (C), by striking “and” at the end; and(2) in subparagraph (D), by striking the period at the end and inserting the following: “; and “(E) if an item of information disputed by a consumer is found to be inaccurate or incomplete or cannot be verified after any reinvestigation under paragraph (1), for purposes 117 STAT. 1996 of reporting to a consumer reporting agency only, as appropriate, based on the results of the reinvestigation promptly—“(i) modify that item of information;“(ii) delete that item of information; or“(iii) permanently block the reporting of that item of information.”.