Fair Credit Reporting Act

Feedback

Feedback
This federal consumer act is primarily concerned with helping to ensure that the information held by credit-reporting agencies is accurate, is only released for legitimate, specific purposes, and is being used fairly. Under the act, consumers are granted some rights and protections regarding this information. A general requirement to be fair and accurate is placed upon (1) the credit-reporting agencies, (2) any organizations that pass credit information about consumers to the agencies, such as credit card issuers, and (3) organizations that might use that credit information to make decisions about giving consumers credit.