N.Y. GBS Law § 380-F

§ 380-f. Procedure for resolving disputes. (a) If a consumer disputes\nany item of information contained in his file, and such dispute is\ndirectly conveyed to the consumer reporting agency by the consumer, the\nconsumer reporting agency shall promptly re-investigate and record the\ncurrent status of such information, unless it has reasonable grounds to\nbelieve that the dispute by the consumer is frivolous, and it shall\npromptly notify the consumer of the result of its investigation, its\ndecision on the status of the information and his rights pursuant to\nthis section. The presence of contradictory information in a consumer's\nfile shall not, in and of itself, constitute reasonable grounds for\nbelieving the dispute is frivolous.\n (b) If, after conducting the re-investigation required by subdivision\n(a) of this section, the consumer reporting agency finds that an item is\nin error or that it can no longer be verified, it shall:\n (1) promptly expunge the item and otherwise correct the file,\n (2) refrain from reporting the item in subsequent consumer reports,\n (3) clearly and conspicuously disclose to the consumer his rights to\nmake a request for notification and upon request of the consumer,\npromptly notify any person designated by the consumer who has received\ninformation regarding the item during the previous year that an error\nexisted, and shall furnish such person with the corrected information,\nand\n (4) where applicable forward a copy of the consumer's statement\npursuant to subdivision (c) of this section.\n (c) If, after conducting a re-investigation pursuant to this section,\nthe consumer reporting agency is unable to resolve any remaining\ndifferences between the statements made by its sources and the consumer,\nit shall:\n (1) promptly indicate in the file that the item is disputed,\n (2) permit the consumer to file a statement concerning the nature of\nthe dispute, which statement may be limited by the agency to not more\nthan one hundred words if such agency provides the consumer with\nassistance in writing a clear summary of the dispute,\n (3) include the consumer's statement of the dispute in all subsequent\ncredit reports containing the information in question, and\n (4) clearly note in all subsequent consumer reports that the item is\ndisputed by the consumer.\n (d) Notwithstanding any other provision of this section, if any item\ndisputed and reinvestigated is found to be in error or can no longer be\nverified, upon completion of the reinvestigation of all items disputed,\nthe agency shall promptly mail the consumer a corrected written copy of\nthe file, reflecting any changes, with an explanation of any code used,\nat no charge to the consumer.\n