The CRAs have no independient way to verify the accuracy of anthing in their files, and thus cannot report that information to other CRAs with any basis for concluding it is accurate, or verifying its accuracy if disputed. Disputes filed via a CRA are required to be forwarded to the furnisher for investigation, If the CRA were the funnisher, there would be no way to forward to themseleves for verification. Furnishers are those who have the information to support the accuracy of their reporting.
No party is required to report to any CRA, or to report all information on an account to the CRA.
FCRA 623(a)(1) governs reporting by requiring that information must not knowingly be inaccurate when reported, and FCRA 623(a)(2) requires a furnisher, once having reported information, to promptly update that reporting so as to maintain its current accuracy. Section 623(a)(2) is the statutory basis to rely upon if a furniher's reporting is currently inaccurate.
You can dispute the accuracy of any information of record in your file by way of dispute via the CRA.
You can optionally dispute the accuracy of information directly with the party who reported the information, with the exception of public record information, credit inquiires, and personal identifier information. Disputes related to those items must be done via a CRA.
In most cases it is preferable to use the direct dispute process if it applies.
