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Jul 7, 2022 · This advisory opinion explains that the permissible purposes listed in FCRA section 604 (a) (3) are consumer specific, and it affirms that a consumer reporting agency may not provide a consumer report to a user under FCRA section 604 (a) (3) unless it has reason to believe that all of the consumer report information it includes pertains to the ...
- Fair Credit Reporting; Permissible Purposes for Furnishing ...
the permissible purposes listed in FCRA section 604(a)(3)...
- CFPB Consumer Laws and Regulations FCRA
Permissible Purposes of Consumer Reports – Section 604; 15...
- Fair Credit Reporting; Permissible Purposes for Furnishing ...
- A. Background
- B. Coverage
- C. Legal Analysis
Consumer reporting agencies collect and assemble or evaluate information about, among other things, the credit, criminal, employment, and rental histories of hundreds of millions of Americans. They package this information into consumer reports, which are used by creditors, insurers, landlords, employers, and others to make eligibility and other de...
Section C.1 of this advisory opinion applies to all “consumer reporting agencies,” as that term is defined in FCRA section 603(f). Section C.2 of this advisory opinion applies to all persons that obtain or use, or seek to obtain or use, “consumer reports,” as that term is defined in FCRA section 603(d).
1. FCRA Section 604
Section 604(a) of the FCRA identifies a limited set of “permissible purposes” for which a consumer reporting company may provide a consumer report to a user. The Bureau is aware that some consumer reporting agencies use insufficient identifiers in matching procedures, such as name-only matching, which can result in the provision of consumer reports to persons without a permissible purpose to receive them. The permissible purposes for which consumer reports are most commonly sought are tho...
2. FCRA Section 604
FCRA section 604(f) prohibits a person from using or obtaining a consumer report “unless . . . the consumer report is obtained for a purpose for which the consumer report is authorized to be furnished under [FCRA section 604]” and “the purpose is certified in accordance with FCRA section 607 by a prospective user of the report through a general or specific certification.” Congress amended the FCRA to include section 604(f) in September 1996. Before the 1996 amendments, FCRA section 6...
Jan 1, 2001 · 15 U.S. Code § 1681b - Permissible purposes of consumer reports. U.S. Code. Notes. prev | next. (a) In general Subject to subsection (c), any consumer reporting agency may furnish a consumer report under the following circumstances and no other: (1)
Short title. This title may be cited as the “Fair Credit Reporting Act.”. § 602. Congressional findings and statement of purpose [15 U.S.C. § 1681] (a) Accuracy and fairness of credit reporting. The Congress makes the following findings: (1) The banking system is dependent upon fair and accurate credit reporting.
May 6, 2021 · The FCRA includes several different “permissible purposes.” For example, a user may have a “permissible purpose” to obtain and use consumer report information: in accordance with a consumer’s written instructions; for employment purposes; for underwriting insurance;
