The Fair Credit Reporting Act of 1970 is a federal law that regulates the collection, dissemination, and use of consumer credit information. It was enacted to ensure that consumer credit reports are accurate and that consumers are protected from unfair and deceptive practices in the credit reporting industry. The Act requires consumer reporting agencies
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 or negligent inclusion of erroneous data in their credit reports. To that end, the FCRA regulates the collection, dissemination, and use of consumer information, including consumer credit information. It was originally passed in 1970, and is enforced by the U.S. Federal Trade Commission, the Consumer Financial Protection Bureau, and private litigants.