What does the Fair Credit Reporting Act protect?

The Fair Credit Reporting Act (FCRA) is a federal law that protects consumers in Kansas and throughout the United States. The FCRA’s main purpose is to ensure that consumer reporting agencies (CRAs) provide accurate, private, and fair reports to individuals and businesses who are using those reports to make decisions. The FCRA requires CRAs to follow certain procedures when providing information about a consumer. It requires CRAs to disclose to the consumer any inaccurate or incomplete information in a consumer’s report. It also requires that any time a CRA provides information to a third party, they must also provide the consumer with a copy of the report they provided. The FCRA also protects consumers from identity theft by requiring CRAs to take measures to prevent unauthorized access to personal information about consumers. The FCRA further provides consumers the right to obtain a copy of their report for free once every 12 months from each of the three major CRAs. In addition, the law prohibits CRAs from providing incorrect or outdated information to third parties. If a CRA does provide incorrect or outdated information, the consumer can sue the CRA in court. The FCRA also gives consumers the right to dispute inaccurate information on their reports and to have the CRA investigate and correct it. In summary, the Fair Credit Reporting Act protects consumers by requiring CRAs to provide accurate and private reports. It also prohibits CRAs from providing incorrect or outdated information to third parties, and it gives consumers the right to dispute inaccurate information on their reports.

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What does the Fair Credit Reporting Act protect?

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