The Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) is the federal law enforced by the Federal Trade Commission to promote accuracy and fairness and to ensure the privacy of the information used in your credit reports. It regulates the functioning of credit bureaus and has been in effect since 1971.

Examples of rights under the Fair Credit Reporting Act

  • Right to receive a copy of your credit report on request. This copy must be up-to-date and all the information in your file at the time of your request must be included.
  • Right to know who has accessed your credit report in the last year for most purposes. However, in the case of employment purposes, the period is two years.
  • If you have been denied credit by any agency, then the right to know the name and address of the credit bureau on whose credit report the denial was based.
  • Right to seek your consent before credit bureau supplies your credit report to your employer or prospective employer.
  •  File a dispute with the credit bureau and information provider to the credit bureau if you feel that the information in your credit report is inaccurate.
  • Right to choose to exclude your name from credit bureau lists for unsolicited credit and insurance offers.