What is the credit union's obligation if a member reasserts a billing error claim after an initial investigation?

The obligation of the credit union when a member reasserts a billing error claim after an initial investigation is primarily outlined by the regulations governing billing disputes. In this context, if a member continues to assert a billing error after the credit union has completed its initial investigation and responded to the member, the credit union is not required to reinvestigate the claim. Instead, it must notify credit reporting agencies of the dispute. This follows the principle that once an investigation has been conducted and communicated to the member, the member's ongoing assertion does not obligate the credit union to revisit the matter as long as they have already taken the required initial actions.

When the credit union notifies credit reporting agencies, it ensures that the claim remains noted in the member's credit history, providing transparency and protecting the member's rights while also fulfilling its regulatory obligations. This action allows for record integrity in the event that the dispute remains unresolved and may need to be addressed by the credit reporting agencies or lead to further action from the member.