FCRA (SAFE EXAM)
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5 Terms
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What does FCRA stand for
Fair Credit Reporting Act
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Regulation V
Was enacted to ensure the accuracy, fairness and privacy of consumers’ personal information used by consumer reporting agencies (CRA)
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What are the three CRA’s?
Equifax, Transunion and Experian
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What does FCRA require?
Requires credit reporting agencies to verify information that is under dispute and limits how long negative information can remain on a credit report
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What 5 rights does FCRA provide?
Adverse Action Notice (Denial)
Copy of Credit File/Report (Free)
Right to Request his/her credit score (Not Free)
Right to dispute negative or inaccurate information
Right to limit prescreened offers
Note 
Flashcards (103)