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FCRA/ Reg V
Mind map: FCRA Reg V
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FCRA/ Reg V
Fair Credit Reporting Act
- Ensure the accuracy, fairness, and privacy of consumers' personal information that is assembled and sed by consumer reporting agencies
Applies to any transaction that involves the used of credit reports, consumer investigatory reports and employment background checks
Obligations of Users
- Certification of Permissable Purpose, Must be a valid reason to obtain a credit report
- Notification of Adverse action
- Notification of Adverse action based on information from affiliates
- Notification of Adverse action
- Certification of Permissable Purpose, Must be a valid reason to obtain a credit report