Experian, a British company with international operations, also said in a statement the study confirms that consumer credit reports are predominantly accurate. At the same time Experian said it "is not satisfied with this result and we continue to work toward ensuring credit reports are 100 percent accurate."
The new U.S. Consumer Financial Protection Bureau has the authority to write and enforce rules for the credit reporting industry. In September the agency began ongoing monitoring of the credit agencies' compliance. It's the first time they have faced such close federal oversight.
The CFPB hasn't yet taken any public action against the agencies. However, it is accepting complaints from consumers who discover incorrect information on their reports or have trouble getting mistakes corrected. The agencies have 15 days to respond to the complaints with a plan for fixing the problem; consumers can dispute that response.
By contrast the FTC can only take action if there is an earlier indication of wrongdoing. It cannot demand information from or investigate companies that appear to be following the law.
AP Business Writer Daniel Wagner contributed to this report.