The banking agencies finalized provisions of the Fair and Accurate Credit Transactions Act on Wednesday that gives consumers more authority to dispute information in their credit reports.

If consumers detect an inaccuracy on their credit report, the new rule allows them to file a complaint directly with the organization that provided the detail to the credit reporting agency. The complaint must be investigated by that original entity.

The rule also dictates that companies include a consumer's credit limit when submitting information to a credit reporting agency. The new standards take effect on July 1, 2010.

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