The Fair Credit Reporting Act of 1970 is a federal law that regulates the collection, dissemination, and use of consumer credit information. It requires consumer reporting agencies to provide consumers with access to their credit reports and to correct any inaccurate information. The law also protects consumers from unfair or inaccurate credit reporting by
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.