What is the Fair Credit Reporting Act?
The Fair Credit Reporting Act ("FCRA") requires that consumer reporting agencies ("CRAs") - such as credit bureaus and resellers of consumer reports - that provide information to creditors, insurers, employers, and others, do so with due regard for the confidentiality, accuracy, and legitimate use of such data. When those parties take adverse action on the basis of information in a credit report, they must identify the CRA that provided the report so that the consumer can learn how to get a copy to verify or contest its accuracy and completeness. Creditors and others may not knowingly provide false information to CRAs, which are required to maintain reasonable procedures to ensure the maximum possible accuracy of their data.
For more information, see here: https://www.ftc.gov/legal-library/browse/statutes/fair-credit-reporting-act
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