The information contained in your credit report can potentially determine whether you're able to borrow money for a home loan or new car, get utility or cell phone services or even land a job and it's your right to know what's being reported by the credit bureaus. The Fair Credit Reporting Act, FCRA, is designed to ensure the accuracy of information contained in your credit report and provide you with certain protections against unfair reporting practices.
As a consumer, it's important to understand how information contained in your credit report can affect your ability to borrow money, secure a place to live or even find a job. The Federal Fair Credit Reporting Act (15 USC 1681 ...
Retail Credit, the first significant United States credit reporting agency, opened for business in 1899 in Atlanta, Georgia. Retail Credit would later change its name to Equifax and become a major player in the credit reporting...
Credit report bureaus start compiling a credit report on you as soon as you open a bank account, apply for credit or make certain other financial transactions. You cannot stop them from doing this or from providing your informa...
The Federal Trade Commission (FTC) is the agency of the U.S. government that enforces the 1971 Fair Credit Reporting Act and the 1996 and 2003 laws that strengthened consumers' rights to be treated fairly by credit card compani...
The Fair Credit Reporting Act became federal law in 1971. According to "Guide To Personal Finance: A Lifetime Program Of Money Management," the law's purpose was "to protect consumers against the circulation of inaccurate or o...
The Fair Credit Reporting Act, originally passed in 1970, underwent extensive substantive modifications in 1996. The revisions to the FCRA went into effect Sept. 30, 1997, and granted consumers the right to have accurate, timel...
The safest way to evaluate your credit online is to use annualcreditreport.com. This site is sanctioned by the Federal Trade Commission's Fair Credit Reporting Act (FCRA). The FCRA requires the three nationwide consumer reporti...
The federal Fair Credit Reporting Act (FCRA), enacted in 1971, was prepared by Federal Trade Commission, the agency that currently enforces it. The purpose of the FCRA is to ensure accuracy in a consumer's credit report, provid...
While a collection agency's job is to get you to pay your bill, the Federal Trade Commission has a set of rules in place detailing what the agency may and may not say or do. The compilation of these laws is called the Fair Debt...
