Ch 4 Base Segment Field 20

The video discusses Base Segment Field #20, "Compliance Condition Code," from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, assisting readers in using Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). This field reports conditions required for legal compliance with laws like the FCRA, Fair Credit Billing Act (FCBA), Equal Credit Opportunity Act, FDCPA, and state regulations—e.g., accounts closed at the consumer’s request or under dispute. The code must be reported monthly while the condition applies and removed when it no longer does, with specific codes listed in Exhibit 8 (Chapter 5), such as "account in dispute under FCRA," "investigation completed, consumer disagrees," or "XR" to remove a prior code (e.g., dispute notations).

This field helps verify if a report reflects ongoing or resolved compliance issues correctly. Errors—like a missing code for an active dispute, an outdated code after resolution, or failure to apply "XR" when requested (e.g., to clear a dispute notation for a mortgage)—can be disputed. By cross-referencing Exhibit 8, readers can ensure Metro 2’s rules are followed, using discrepancies as evidence in dispute letters to CRAs to enforce accurate reporting under the industry standard.