What is Metro 2 Compliance
Category : Credit Repair
Did You Know that Most Credit Repair Companies Use an Outdated Dispute Process? The Credit Bureaus Can Deem Your Disputes Frivolous and shut down. We Use the Newest and Most Effective Metro2 Compliance Process.
So, What is Metro 2 Compliance. Metro 2 is the standard format for which financial institutions must send data about their loan customers electronically to the major credit reporting agencies (CRAs). One of the goals or benefits that should be derived from using a standard format should enable banks to comply with the Fair Credit Reporting Act (FCRA) and the Equal Credit Opportunity Act (ECOA).
The Consumer Data Industry Association (CDIA) provides the definitions that go along with Metro 2 compliance language. Recently, federal regulators have placed an increased emphasis on the completeness and accuracy of the data being transmitted to the major CRAs and data being published by the each of the CRAs.
A review of the CFPB’s Consumer Complaint Database noted over 50,000 complaints from January 1, 2016 through February 28, 2017 related to credit bureau reporting. The accuracy of the data being reported to and by the major CRAs is critical to a consumer’s ability to receive credit in today’s marketplace. Below are some tips to ensure your credit bureau reporting process is complete and accurate.
Why We Use Metro 2 Compliance
Many credit repair companies use an outdated process to try to clean up a consumer’s credit reports. Our process is different in that we don’t dispute… we challenge!
If the check for compliance is deficient, delayed, refused, or questionable in any manner, we attack the bureaus and data furnishers with a lawfully leveraged challenge to demonstrate the certification of factual reporting. This includes the mandatorily perfect and complete Metro 2 formatted reporting standards, the applicable requisites of the FCRA and the applicable requisites of the FDCPA, and any additional standard or regulation.
Moreover, in the M2C method, if the check for compliance is deficient or delayed or refused or elsewise questionable in any manner, we contest the accusing parties with a lawfully leveraged challenge to demonstrate the certification of factual reporting (the process as well as the item itself of reporting) which includes the mandatorily perfect and complete metro 2 formatted reporting standards, the applicable requisites of the Fair Credit Reporting Act and the applicable requisites of the Fair Debt Collections Practices Act, and or any standard or regulation otherwise, be it mentioned or not.
Compliance of reporting is a minimal standard of reporting not an optional one whereas truth and validity of claims is a minimum standard of collection, but not all items that meet collection standards meet the requisites of reporting. The fact is, you can have a collect-able item not be legally report-able!
Due to the fact that humans can and do make mistakes, errors can and do occur. If its not 100% correct it must be deleted.
We look forward to serving you.