In this ebook you will learn about the Fair Credit Reporting Act. This ebook has interative links that will take you to the book of cornell law to further research and study the law. 
 
We will be covering the following plus so much more!
 
Section 601 – The popular name of the law is the “Fair Credit Reporting Act”
or the FCRA for short
Section 602 – Why Congress found a need for the law, i.e. a credit reporting
system that is fair and accurate to the consumer, and protects the privacy and
specifies the permitted uses of consumer information
Section 603 – Important definitions of key terms used in the Act. For
example, a person is defined as an individual or an organization, but a
consumer is defined only as a natural person. The law also defines what is a
consumer report, a consumer reporting agency, consumer reports for
employment purposes, and adverse actions
Section 604 – This section is about the situations in which consumer
reporting agencies may provide a consumer report. These situations are also
called the “Permissible Purposes” to obtain a report. The section also lists
some purposes where a consumer report may not obtain a report, e.g.
marketing, curiosity, law enforcement
Section 605 – Controls the time limit of when consumer information can be
reported. In general, that is 7 years for adverse data other than bankruptcy
which can be up to 10 years. This section also controls when the time period
limit starts running
Section 605A – About Identity Theft including filing initial fraud alerts,
extended alerts, and active duty alerts
Section 605B – In certain situations, the Consumer Reporting Agencies
(CRA’s) must block information as a result of Identity Theft
Section 606 – One of the main point of this section on investigating consumer
reports, like employment reports, is that there are required disclosures that
must be made to consumers
Section 607 – Compliance section, which means that CRA’s must maintain
reasonable procedures to avoid violating Section 604 and 605 of the Act, such
as providing obsolete information or furnishing reports for non permitted
purposes
Section 608 – When a government agency can see your report and what they
can see
Section 609 – What must be disclosed to consumers upon request