• The Fair Credit Reporting Act (FCRA) regulates how credit bureaus can collect and share information about individual consumers.
  • Businesses review credit reports for many purposes, such as deciding whether to issue a loan or sell insurance to a consumer.
  • The FCRA also gives consumers certain rights, including free access to their own credit reports.
  • Violations of the FCRA may result in penalties, including damages if incurred.
  • Enforcement of the FCRA is the responsibility of the FTC and CFPB.