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What Is FCRA?

What Is FCRA?

FCRA stands for Fair Credit Reporting Act and is a federal law in the United States that aims to regulate the collection, dissemination, and use of consumer information which includes credit information as well. Passed in 1970, the act lays down certain guidelines for consumer reporting agencies or credit bureaus including Equifax, Experian, and TransUnion. This act not only helps in keeping a detailed record of the consumer’s credit history but it also ensures honesty on the part of credit bureaus.

Adverse Action And Credit Reports

The term adverse action is defined in the Equal Credit Opportunity Act and in the Fair Credit Rep…

Contacting Credit Bureaus

Many people know that it is an excellent idea to get a copy of their credit report at least on a …

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