What does the Fair Credit Reporting Act protect?

The Fair Credit Reporting Act (FCRA) is a federal law that helps protect consumers in Delaware from inaccurate information and fraud on their credit reports. The FCRA applies to companies that collect and report consumer credit information, also known as “credit bureaus.” It gives consumers the right to know what is in their credit report and the right to dispute incorrect information. Under the FCRA, credit bureaus must follow strict procedures when handling information about consumers. For example, credit bureaus must give consumers access to their credit reports so they can verify accuracy and dispute any inaccuracies. Additionally, if a consumer has been denied credit, insurance, or employment due to something in their credit report, they must be told what is in the report and the name of the company that provided the information. This allows the consumer to figure out if the denial was based on incorrect information. The FCRA also requires that credit bureaus maintain the accuracy and privacy of consumer information, and they must only provide information to those who have a legal right to receive it. This includes employers, creditors, and government agencies. The FCRA also states that credit bureaus must take reasonable steps to investigate any disputed information and correct any inaccuracies. By protecting consumers from inaccurate credit information, the FCRA helps ensure that consumers in Delaware have access to the credit they need to purchase important items, such as a home or car. The FCRA also helps protect consumers from identity theft and other forms of fraud.

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What does the Fair Credit Reporting Act protect?

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