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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


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

Learning the FCRA Law | Fair Credit Reporting Act

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