The Fair Credit Reporting Act (FCRA) is a United States federal law (codified at 15 U.S.C. ยง 1681 et seq.) that regulates the collection, dissemination, and use of consumer information, including consumer credit information. Along with the Fair Debt Collection Practices Act (FDCPA), it forms the base of consumer credit rights in the United States. It was originally passed in 1970, and is enforced by the US Federal Trade Commission and private litigants.
Read more about Fair Credit Reporting Act: History, Consumer Reporting Agencies, Nationwide Specialty Consumer Reporting Agencies, Information Furnishers, Users of The Information For Credit, Insurance, or Employment Purposes, Likelihood of Errors On A Credit Report, Civil Liability For Willful or Negligent Violations of The FCRA, Which Companies Are Regulated By The FCRA?
Famous quotes containing the words fair, credit, reporting and/or act:
“Will Fortune never come with both hands full,
But write her fair words still in foulest terms?”
—William Shakespeare (1564–1616)
“Japanese mothers credit “effort” as the key determinant of a child’s achievement in school, while American mothers name “ability” as the more important factor.”
—Perry Garfinkel (20th century)
“I have been reporting club meetings for four years and I am tired of hearing reviews of the books I was brought up on. I am tired of amateur performances at occasions announced to be for purposes either of enjoyment or improvement. I am tired of suffering under the pretense of acquiring culture. I am tired of hearing the word “culture” used so wantonly. I am tired of essays that let no guilty author escape quotation.”
—Josephine Woodward, U.S. author. As quoted in Everyone Was Brave, ch. 3, by William L. O’Neill (1969)
“Spirit is now a very fashionable word: to act with Spirit, to speak with Spirit, means only to act rashly, and to talk indiscreetly. An able man shows his Spirit by gentle words and resolute actions; he is neither hot nor timid.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)