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Are Credit Unions subject to FCRA?

Established Contributor

Are Credit Unions subject to FCRA?

i want to to dispute a negative item on my EQ credit report noted by Power Financial CU.  I had a dormant checking account with them. and a former student loan provider issued an EFT withdra from this acccount.  it was a rarely used account that went negative, because i only had a few dollars in it.  and did not notice until i was sent a notice that the account had been closed.  i immediately sent a money order to of cover the EFT, but stated this was an unauthorized transfer. 


a few weeks later it reported as unpaid, closed account (with a balance) and negative.  i want to send power financial a letter that they are in violation of FCRA qnd are reporting unfair and inaccurate information...


what do you suggest? 

Message 1 of 3
Senior Contributor

Re: Are Credit Unions subject to FCRA?

If i understand it correctly, anyone reports to the CRA's is subject to FCRA.


I may have missed something, your CR states unpaid closed acct with a balance correct?

Did the CU accept the MO you sent to cover the neg balance?


Did your student loan provider  fix the transfer error?

FICO's May 2015 EQ764 ~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Message 2 of 3
Established Contributor

Re: Are Credit Unions subject to FCRA?

yes, the report says it is unpaid, closed and shows the balance. However, the balance it shows is actually LOWER that what i sent them with the money order. They show $263, owed on the account.  The actual Money Order was for$303.  But, yes they accecpted the MO I sent CMRR.


I was granted a deferment, however the student loan provider defaulted to this DORMAnT checking account that I had not used very much in the past few years. 



Message 3 of 3