The nation’s three major credit reporting agencies must improve credit reporting accuracy and enhance consumer protections through a $6 million agreement with 31 state attorneys general, Iowa Attorney General Tom Miller announced today. Under the settlement with Equifax Information Services LLC, Experian Information Solutions Inc. and TransUnion LLC, the credit reporting agencies must make it easier for consumers to correct errors on their credit reports, in changes that will be phased in over the next three years. The agencies must also reform other business practices. Among key provisions of the settlement, the credit reporting agencies must implement an escalated process for handling complicated disputes, such as those involving identity theft, fraud or mixed files — where one consumer’s information is mixed with another’s. Under the agreement, the agencies will pay more than $106,000 to Iowa’s consumer education and litigation fund. For a summary of the settlement requirements,click here.