Fair Credit Reporting Act
Credit is more important now than ever. Credit reports impact everything from a consumer's ability to borrow money to getting a job to the eligibility for governmental benefits. Congress passed the Fair Credit Reporting Act (FCRA) because there is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumer’s right to privacy. The FCRA requires that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information.