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COVID-19 Resources for Data Furnishers

TransUnion is committed to supporting you as you manage your obligations in regards to the Fair Credit Reporting Act (FCRA) and Coronavirus Aid, Relief, and Economic Security (CARES) Act during the COVID-19 pandemic. Together, we have supported consumers through many urgent situations, and we will continue working with you as this current situation evolves.

Data Furnisher Obligations

Data furnishers are advised of the following obligations under the FCRA and CARES Act:

  • The requirements of Section 623(a)(1)(F) of the Fair Credit Reporting Act (enacted as part of the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act), which requires that when a furnisher reaches an “accommodation” (as defined therein) with respect to one or more payments on a credit obligation or account of a consumer, and the consumer makes the payments or is not required to make one or more payments pursuant to the accommodation, the furnisher report the credit obligation or account as “current,” unless such credit obligation or account was delinquent before the accommodation, or has been charged off by the furnisher.
  • In regards to federal student loans, furnishers are apprised of the requirements of Section 3513 of the CARES Act, which suspends all payments due for loans made under part D and part B (that are held by the Department of Education) of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087a et seq.; 1071 et seq.) through September 30, 2020, and requires that any payment that has been suspended is treated, for the purpose of consumer credit reporting, as if it were a regularly scheduled payment made by a borrower.

TransUnion recommends that you consult with your internal Compliance or Legal departments on complying with the FCRA and the CARES Act.

Resources for Data Furnishers