Require all three Credit Reporting agencies to immediately remove incorrect information from consumer's credit report. The process should be transparent and when the consumer provides documentation that the information on the credit report is not accurate, they must immediately correct. Credit Reporting agencies must notify all companies who have made a credit inquiry within the last 6 months of the corrected information within 30 days.
In order for the information to go back on the credit report, the reporting agency must verify it is accurate by obtaining copies of the original invoice/contract with signature of individual. The fine for not correcting within 30 days should be high...let's say $100,000 payable to the individual.
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