Fair Credit Reporting Act

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TITLE 15 - CHAPTER 41 - SUBCHAPTER III

Fair Credit Reporting Act

Summary:

Parts of this act includes: Credit reporting agencies must: disclose to consumers the information and substance thereof within their report, they must investigate disputes and re-investigate disputes if requested, if re-investigation does not resolve the dispute, the credit reporting agencies must allow the consumer to post an explanation in their credit file. The credit reporting agencies must make corrections in the consumer report (if applicable), they must remove adverse or negative information within the consumer's report if more then 7 years old or 10 years for bankruptcies. Credit reporting agencies are only to furnish reports to those who have a permissible reason for it.

Creditors must notify consumers the name and address of any and all credit reporting agencies whose reports were used as a basis for the creditor's denial.

Subsection:

1681 Congressional findings and statement of purpose

1681a Definitions; rules of construction

1681b Permissible purposes of consumer reports

1681c Requirements relating to information contained in consumer reports

1681c-1 Identity theft prevention; fraud alerts and active duty alerts

1681c-2 Block of information resulting from identity theft

1681d Disclosure of investigative consumer reports

1681e Compliance procedures

1681f Disclosures to governmental agencies

1681g Disclosures to consumers

1681h Conditions and form of disclosure to consumers