Definition
Metro 2 is the standardized electronic format developed by the Consumer Data Industry Association for furnishing consumer credit account information to the nationwide credit bureaus. Each record includes identifying information, account type and status, balance, payment history, date of first delinquency, and special comment and compliance condition codes, including codes for disputes and for medical debt.
Collectors and debt buyers that report are furnishers under the Fair Credit Reporting Act and must have reasonable written policies to ensure accuracy and integrity, investigate disputes through e-OSCAR within 30 days, and correct or delete inaccurate information. Reg F prohibits reporting before communicating with the consumer about the debt.
Example
A debt buyer reports a purchased account with the original date of first delinquency (so the seven-year clock is correct), balance $1,460, status "collection," and the XB compliance code when the consumer disputes. When the consumer pays, the status updates to "paid collection" in the next monthly file.
How HL Hunt handles it
HL Hunt generates Metro 2 files automatically with correct dates of first delinquency, applies the Reg F pre-reporting communication check, excludes medical accounts under state and bureau rules, routes e-OSCAR disputes into the dispute workflow, and updates or deletes tradelines as accounts resolve.