ALEXANDRIA, Va. (5/22/09)—A rule change to existing Fair Credit Reporting Act regulations that would allow consumers to take their disputes directly to the furnishers of credit report information rather than acting solely through a credit reporting agency was unanimously approved by the board of the National Credit Union Administration Thursday. Overall, the final rule, as approved, will implement portions of the Fair and Accurate Credit Transactions Act that seek to improve the accuracy and integrity of credit reports. At the meeting, NCUA staff said that reassessment and possible reform of the existing rule will begin immediately and will be ongoing. The rule will also be reexamined every three years, NCUA staff said. The resulting guidelines will be flexible and will allow organizations to determine which portions of the guidelines best apply to their individual needs. The rule will apply to federally chartered credit unions, and a separate, nearly identical Federal Trade Commission rule will apply to state-chartered credit unions. As a counterpart to the accuracy of information guidelines, the board also unanimously approved a sixty-day comment period to gather outside input on whether or not the furnishers of credit reports should promote the integrity of the information in those reports by disclosing the opening date of a given account. The NCUA will also ask for opinions on any additional information that could help ensure the integrity of the credit information.