Public Law 91-508 requires that an insurer tell an applicant if a consumer report may be requested. The applicant must also be told the scope of the possible investigation. Should the application be declined because of information contained in that report, the applicant must be given the name and address of the reporting agency. The insurer may not reveal the contents of the report. Only the agency that compiled the report may release its contents.

A federal law regulating the way credit agencies disclose consumer credit reports and the remedies available to consumers for disputing and correcting mistakes on their credit history.

A federal law that ensures fair and accurate reporting of credit information.

A United States federal law designed to help ensure that consumer reporting agencies act fairly, impartially, and with respect for the consumer's right to privacy when preparing consumer reports on individuals. See also consumer reporting agency.----------[ Back

A consumer protection law which establishes the procedure for correcting errors on individuals’ credit reports.

A federal law passed by Congress to encourage the accuracy and fairness of credit reporting.

A law which requires that lenders rejecting a loan because of adverse credit must inform the borrower of the source of that information.

Federal law, which dictates acceptable and non-acceptable practices and procedures involved in the reporting of credit information related to a consumer.

Federal law that requires that creditors refrain from reporting incorrect information to credit bureaus. The law also requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and stops credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten.

stipulates the requirements of users of credit reports and disclosure to consumer.

Federal legislation for governing the acts of credit reporting agencies.

The fair credit reporting act is a law that protects the consumer by having guidelines that creditors and reporting agencies must follow to exchange or correct information on oneâ€(tm)s credit report.

The law that regulates the behavior of credit bureaus.

The FCRA is designed to protect individuals, by promoting accuracy, fairness, and privacy of information in the files of every Consumer Reporting Agency (CRA). Companies that perform pre-employment screening services are governed by the FCRA, as are the employers that use background screening services.

Enacted in 1971 and revised effective as of October 1997, governs the activities by Credit Bureaus and regulates the release of confidential information by Credit Bureaus.

When a lender turns down a potential borrower because of poor credit, a Federal law requires the lender who is declining the loan to inform the borrower of the source of such information.

A law regulating how information is reported on a credit report and that establishes procedures to correct any errors therein.

A set of rules that governs the activities of credit bureaus and controls the release of confidential information by those bureaus.

The Fair Credit Reporting Act gives you specific rights when dealing with Credit Reporting Agencies. It requirescredit bureaus to furnish accurate and complete information to businesses when they evaluate your applications for credit, insurance, or a job.

A federal law that amoung other things enables consumers to learn what information consumer reporting agencies have on file about them, and to dispute errors in the file. It also specifies certain permissible purposes for which credit reports may be furnished. It provides consumers with the right to obtain a copy of their report at no charge if their have been turned down for credit.

Governs all granters of consumer credit and all local retail credit bureaus.

Federal law requiring consumer-reporting agencies to be impartial and maintain the consumer's right to privacy.

The federal Fair Credit Reporting Act (FCRA) is designed to promote accuracy, fairness, and privacy of information in the files of every consumer reporting agency (CRA). The FCRA gives consumers specific rights and additional rights may apply under state law.

Federal legislation that promotes the accuracy, confidentiality and proper use of information in the files of every "consumer reporting agency". The FCRA was enacted in 1970.

A consumer protection law that regulates the use of information in consumer credit reports and establishes procedures for correcting errors in a credit report.

The act is designed to regulate the consumer reporting industry, place disclosure obligation on users of consumer reports, and ensure fair, timely and accurate reporting of credit information.

The Fair Credit Reporting Act establishes procedures for correcting mistakes on a person's credit record and requires that a consumer's record only be provided for legitimate business needs. It also requires that the record be kept confidential. A credit record may be retained seven years for judgments, liens, suits, and other adverse information except for bankruptcies, which may be retained ten years. If a consumer has been denied credit, a cost-free credit report may be requested within 30 days of denial.

A federal law governing the actions of credit reporting agencies. Enacted by the US Congress in 1970 and amended in 1996, the FCRA protects consumer rights by limiting access to your credit report.

Consumer protection law regulating disclosure of consumer credit reports by credit-reporting agencies and establishing procedures for correcting mistakes on credit records.

Federal law that covers the reporting of debt repayment information. It establishes when a credit reporting agency may provide a report to someone; states that obsolete information must be taken off (seven to 10 years); gives consumers the right to know what is in their credit report; requires that both a credit bureau and information provider (i.e. department store) have an obligation to correct wrong information; gives consumers the right to dispute inaccurate information and add a 100-word statement to their report to explain accurate negative information; and gives consumers the right to know what credit bureau provided the report when they are turned down for credit.

A federal law that protects your right to know what's in your credit report, sets up procedures to ensure that credit reporting agencies follow reasonable procedures to furnish correct information about you, and ensures only entities with permissible purpose have access to your file. Back to Glossary Index

Information in your credit report that federal law gives citizens the right to challenge.

The Fair Credit Reporting Act is a Federal law that oversees all aspects of credit, credit bureaus and consumers rights. It dictates what parts of your credit history can be used and shared with other lenders and, how long they keep that information.

A law that gives customers the right to know the reason credit was denied, and regulates the collection and reporting of credit histories.

A federal law intended to protect the public from the reporting of inaccurate credit information by giving individuals the right to inspect information in their own file.

Consumers' rights are protected when collecting and reporting information when applying for credit, insurance, and employment

Federal law requiring an individual to be informed if he or she is being investigated by an inspection company.

Is a central rule, established in 1971 and amended in 1997. This law enables the borrowers to know their credit reports with the Credit Reporting Agencies. The customers can question any false information filed against them. This rule also enables the customers to see their credit report for certain purposes and also specifies a time period for which the records can be held in Credit Report.

A federal law that protects you as a consumer, by regulating the reporting of consumer credit by the credit reporting agencies. It establishes procedures for correcting errors on your individual credit file.

A law that establishes consumer rights regarding credit reporting and regulates the use and disclosure of credit reports by consumer/credit reporting agencies.

Law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one's credit record. Also, if a lender is rejecting a loan request because of adverse credit information, then the lender must inform the borrower of the source of that information.

Federal law that allows consumers who are denied insurance because of information contained in a credit report to be notified and allowed to obtain the information used in the report from the reporting agency.

The U.S. Fair Credit Act seeks to achieve fair, timely and accurate reporting of credit information by regulating the activities of credit bureaus and limiting access to credit bureau information. Requiring that creditors disclose certain information regarding their use of credit bureau or third party information. Under the Fair Credit Act you have the right to see the credit history maintained by a credit bureau about you.

A Federal law protecting consumers by regulating the disclosure of credit reports by credit institutions and the remedies consumers have for correcting errors on their credit report.

Consumer protection law(s) that sets up a procedure for an individual to dispute or correct inaccuracies on ones credit report.

A federal law which requires a lender who is rejecting a loan request because of adverse credit information to inform the borrower of the source of such information. This law also requires consumer reporting agencies to exercise fairness, confidentiality and accuracy in preparing and disclosing credit information.

A consumer protection law that regulates the disclosure of consumer credit reports by credit reporting agencies and specifies procedures for challenging errors on a credit record.

Federal Housing Administration (FHA)

Federal legislation enforced by the Federal Trade Commission to promote accuracy and ensure the privacy of information used in consumer reports. The FCRA also provides regulations for consumer reporting agencies to follow with regards to consumers' files. Amendments made to the Fair Credit Reporting Act (FCRA) require Consumer Reporting Agencies to adhere to additional regulations to help consumers gain access to the information in the consumer file as well as promote greater accuracy of the information in the file. In addition, FACTA provides special provisions to help consumers who become the victim of identity theft.

A consumer protection law that regulates the disclosure of consumer credit reports to consumers and establishes procedures for correcting mistakes.

A federal law whose purpose is to ensure that agencies that prepare credit reports act fairly, accurately and with respect to privacy rights. The FCRA also gives individuals the right to get a copy of their credit report.

() A consumer protection law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one's credit record.

A federal law giving one the right to see his or her credit report so that errors may be corrected. A lender refusing credit based on a credit report must inform the buyer which company issued the report. The buyer may see the report without charge if refused credit, or for a charge if just curious.

Enforced by the FTC (Federal Trade Commission), this act was passed by Congress to protect consumers when dealing with consumer reporting agencies (CRAs), like credit bureaus. The FCRA was designed to insure CRAs provide accurate credit histories, and to insure the privacy of that information.

The Federal Act that states that you have a right to check and correct errors on your credit report as well as verify that your credit history isnâ€(tm)t being misused.

A federal law that allows individuals to examine and correct information used by credit reporting services.

(FCRA) US federal legislation that promotes accuracy,confidentiality and proper use of information in the files of a consumer reporting agency.

A federal law that regulates the ways in which credit reporting agencies use consumers' information. Among other rights, it defines who may access your credit report and gives you the right to correct erroneous information on your credit report.

Also known as FCRA. This federal law regulates credit-reporting companies like Experian, Equifax, and Trans Union in order to protect consumers' rights. It also allows consumers to review and dispute information in their credit files.

The FCRA protects consumers' privacy by defining permissible purposes a business or individual must have when requesting a credit report; provides consumers with the right to obtain copies of their credit reports for free if denied credit; defines obsolete information; and declares that reasonable procedures must be used to ensure accuracy.

A federal law, established in 1971, and revised in 1997, which enables consumers to learn what information Credit Reporting Agencies have on file about them, and to dispute inaccurate data in the file. It also establishes specific permissible purposes for which credit reports may be requested, and places time limits on how long adverse information may be reported.

A consumer protection law regulating consumer credit reports by consumer/credit reporting agencies; further establishes procedures for correcting credit rating errors.

A federal law that governs what credit bureaus can report and for how long. It outlines procedures for correcting errors in credit reports. It requires credit bureaus to furnish copies of consumers' credit reports at their request.

A law that establishes consumer rights in regards to credit reports. The FCRA governs credit report agencies and does the following to protect consumers: limits the purposes for which credit can be checked, ensures consumers have the right to view their credit files, and provides consumers with the right to correct errors in their credit reports.

A law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies. This consumer protection law also establishes procedures for correcting mistakes on consumers' credit records.

The FCRA is the U.S. federal legislation that governs the actions of CRAs.

A law which standardizes the form and rules of disclosure of credit reports created by consumer/credit reporting agencies and establishes procedures for the correction of errors on a person's credit report.

If you notify a credit bureau of a mistake on your credit report, they must verify that mistake or change it within 30 days. Also, you are entitled to see your credit report and you are entitled to a free copy from any credit bureau responsible for a report that led to a creditor denying you credit. You must ask for your free credit report with one month of being denied credit.

Law protecting consumers that establishes procedures to correct errors on credit reports and gives consumers specific rights in dealing with credit reporting agencies.

Regulated the collection and distribution of information by the consumer credit reporting industry. It also affects how financial institutions collect and convey credit information about loan applicants or borrowers.

A federal law that governs the exchange of credit information.

In the United States, a federal law that regulates the reporting and use of consumer credit information and seeks to ensure that reports from consumer reporting agencies contain only accurate, relevant, and recent information. See also consumer credit report and consumer reporting agency.

National doctrine by which credit reports must adhere, it outlines the basic guidelines by which credit bureaus can report information in a consumer's file. Specifically, it stipulations as the type and the duration of time for which they may relay information within the confines of an authorized credit report check. Law explaining what information credit bureaus can report and for what length of time they can report this information. This law describes how consumers can have errors in their credit reports corrected and requires that the bureaus provide copies of credit reports to consumers.

A public law enacted to protect consumers from abusive credit practices. This law makes creditors and credit bureaus apply standard yet important procedures for accurate credit reporting.

Federal law that requires written notification to an individual whose credit is to be investigated by an inspection company, sets guidelines to be followed by the inspection company and grants the individual access to the information reported.

The federal law, enacted in 1971, requiring a lender to disclose to a borrower the nature and source of credit information. This law gives an individual the right to examine his or her credit history and any other information which might be on file with a credit reporting agency, within established guidelines.

A federal law that gives consumers the right to see their credit records and correct any mistakes.

The Fair Credit Reporting Act is a federal consumer protection law that regulates the disclosure of consumer credit reports and establishes procedures for correcting any errors that may appear on a credit report.

A federal law passed in 1971 that regulates the activity of credit bureaus. It is designed to prevent inaccurate or obsolete information from staying in a consumer's credit file and requires credit bureaus to have reasonable procedures for gathering, maintaining and disseminating credit information. The act also requires credit bureaus to show a consumer their credit file if the consumer presents proper identification, although the bureau reserves the right to charge a fee for doing so.

The FCRA is a U.S. federal law that gives everyone the right to see what the CRA's have on file in their credit report. It also outlines permissible purposes for obtaining a periodic free copy of a credit report. And if there are any inaccuracies found, they have the right to dispute them.

A law that protects consumer that regulates the reporting of consumer credit by agencies and establishes procedures for correcting errors on an individual record.

A consumer protection law that sets up a procedure for correcting mistakes on one's credit record.

A consumer protection law that regulates the disclosure of consumer credit reports by credit reporting agencies and establishes procedures for correcting mistakes on a person's credit record. Back

created to protect consumers and ensures the disclosure of credit reports by credit reporting agencies and sets procedures for correcting mistakes on one's credit history.

A consumer protection law that regulates the disclosure and use of consumer credit information, establishes rules for credit reporting to consumer credit reporting agencies, and establishes procedures for a consumer to view his or her credit report and correct mistakes on it.

A federal act which became effective April 1, 1971, and attempts to regulate the actions of credit bureaus that give out erroneous information regarding consumers. First, banks and credit companies must make a customer's credit file available to the person in question. Further, the consumer, upon examining the file, has the right to correct any errors that may appear in the credit reports. Secondly, if a creditor denies a loan to an applicant, the applicant must be given the name and address of the credit bureau that supplied the credit information to the creditor. Upon request the credit bureau must supply the consumer with the pertinent information contained in the applicant's credit file. Finally, the act limits the access of the consumer's credit records to people who: (1) evaluate an applicant for insurance, credit or employment, (2) secure the consumer's permission, or (3) secure court permission.

Federal law designed to regulate procedures and prevent old or inaccurate information from staying in consumer credit files. This act provides individuals the right to inspect their own credit files, although the credit bureau may charge a fee.

A federal law that enables consumers to learn what information credit reporting agencies has on file and allows the consumer to dispute errors.

A federal law giving consumers the right to learn what information credit reporting agencies have on file about them and to dispute any inaccurate data in the file.

Federal law giving you the right to see, and challenge, your credit reports at credit reporting agencies.

The federal law that promotes accuracy and ensures the privacy of the information in consumer reports, including credit histories. The Federal Trade Commission enforces FCRA.

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

A federal law designed to protect consumers from inaccurate credit information, which requires a lender who is rejecting a loan request because of adverse credit information to inform the borrower of the source of such information.

A federal law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies, and establishes procedures for rectifying errors on individuals' credit records

Federal legislation governing the actions of credit reporting agencies.

Federal law that allows consumers to obtain information from their credit report if they have been denied coverage based on information contained therein.

Public Law 91-508 requires that an applicant be advised if a consumer report may be requested and be told the scope of the possible investigation. Should his request for insurance be declined because of information contained in that report, the applicant must be given the name and address of the reporting agency.

A consumer protection law that allows a person to know that is in his/her credit file, have explanations inserted, and have information investigated and removed if wrong.

An act requiring that an applicant be informed in advance if an inspection/consumer report may be ordered. If insurance is declined due to information contained in that report, the applicant has the right to ask the inspection company about the information it obtained.

federal law that prevents old or inaccurate information from remaining in consumer credit files and regulates credit reporting procedures.

Federal law passed in 1970 that limits the rights of others viewing a credit report to those with a legitimate business need. The law has a loophole in that it does not define a legitimate need, resulting in just about anyone being able to say they have a legitimate need and gain access to a credit report. 12.33 Fanning, Shawn, 1.30

A federal consumer protection regulation that controls the disclosure of credit information and establishes procedures for correcting mistakes in your credit file.

The Fair Credit Reporting Act gave consumers the right of access to, and correction of, credit reports.

The Fair Credit Reporting Act (FCRA) is an American federal law (codified at et seq.) that regulates the collection, dissemination, and use of consumer credit information. Along with the Fair Debt Collection Practices Act (FDCPA), it forms the base of consumer credit rights in the United States.