Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) is a U.S. law that regulates how consumer credit information is collected, used, and shared. It ensures that credit reporting agencies provide accurate information and gives consumers the right to access their credit reports, dispute inaccuracies, and understand how their credit information affects them. Additionally, it requires companies to follow strict guidelines when acquiring credit reports for decisions like loans or employment. The FCRA aims to protect consumers from unfair practices and promote transparency in the credit reporting process.