Fair Credit Reporting Act (FCRA)
A federal act aiming to promote the fairness and accuracy of information
contained in consumer reports, such as a credit report. It creates legal standards
for the collection, use, and dissemination of consumer credit information. It
also contains notice and opt-out provisions for the sharing of credit-related
information between affiliates and for pre-screened solicitation of consumers.
The FCRA was amended by the Fair and Accurate Credit Transactions Act of 2003
(FACTA) (PL 108–159, 12/04/03). The FACTA requires the Commission and other
agencies to implement many of the new provisions of the FCRA by means of rules
and regulations.
Links for IRMI Online Subscribers Only:
TRR 5/2004