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The Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq., is federal legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies. It was intended to shield consumers from the willful and/or negligent inclusion of erroneous data in their credit reports.
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.
Mar 17, 2023 · Resources to help industry understand, implement, and comply with the Fair Credit Reporting Act and Regulation V. Featured topic On March 17, 2023, the CFPB published an updated version of the Summary of Consumer Rights pursuant to the Updated and Corrected Agency Contact Information Rule .
Nov 22, 2019 · The Fair Credit Reporting Act (FCRA) is a federal law that helps to ensure the accuracy, fairness and privacy of the information in consumer credit bureau files. The law regulates the way credit reporting agencies can collect, access, use and share the data they collect in your consumer reports.
It applies to information reported on individuals concerning their credit such as: information collected, used, or expected to be used to evaluate eligibility for credit, insurance, and employment; assessment of risks and review of consumer accounts; certain government licenses or benefits and determinations regarding child support; any criminal...
Feb 16, 2024 · The Fair Credit Reporting Act is a federal law that regulates credit bureaus and protects consumers. It was passed in 1970 to address the accuracy, fairness, and privacy issues within the...
The Fair Credit Reporting Act (FCRA) (15 U.S.C. §§ 1681 and following) is a federal law that governs how credit reporting agencies handle your credit information. This law protects the integrity and privacy of your credit data.
