Credit glossary
Furnisher
Any company that sends information about your accounts to the credit bureaus, such as a card issuer, lender, loan servicer or collector.
Furnishers send account updates in the Metro 2 format, usually monthly, and they control what gets reported. Reporting is generally voluntary, so some lenders report to one or two bureaus rather than all three. Under 15 U.S.C. 1681s-2, furnishers can't report information they know is inaccurate, must correct what they learn is wrong, must report the delinquency date on collections and charge-offs, and must flag disputed accounts.
Because the furnisher holds the records, it's often the best place to fix an error. The FCRA and Regulation V let you dispute many items directly with the furnisher, which must investigate on a timeline similar to a bureau's. A correction at the source can fix the account at every bureau it reports to, while a bureau dispute fixes only that bureau's file.
Guides that go deeper
- Disputing directly with the lender or collector that reported itHow to dispute a credit report error directly with the lender or collector under 1681s-2(a)(8) and 12 CFR 1022.43, and when that beats a bureau dispute.
- Metro 2 explained: the data format behind your credit reportLenders don't mail the bureaus your history. They send Metro 2 files. What the format holds, how e-OSCAR and ACDVs move disputes, and why it matters.
- When card issuers report to the credit bureaus, and how to checkMost card issuers report once a month, usually around the statement closing date, but schedules vary. How to find out exactly when your cards report.
Sources
- 15 U.S.C. 1681s-2: Responsibilities of furnishers of information to consumer reporting agencies, Legal Information Institute, Cornell Law School
- 12 CFR 1022.43: Direct disputes, Electronic Code of Federal Regulations
- Key Dimensions and Processes in the U.S. Credit Reporting System (December 2012), Consumer Financial Protection Bureau
This is education, not legal or financial advice. Spot an error? Tell us and we'll fix it.