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The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records).
The following is a list of consumer rights under the FCRA:
- Consumers must be told if information in their file will be used against them.
- Consumers have the right to know what is in their file.
- Consumers have the right to ask for a credit score.
- Consumers have the right to dispute information or inaccurate information.
- Consumer reporting agencies must correct or delete incomplete or unverifiable information.
- Consumer reporting agencies may not report outdated, negative information.
- Consumers access to files are limited.
- Consumers must give consent for reports to be provided to employers.
- Consumers may limit “prescreened” offers of credit and insurance based on information in their credit report.
- Consumers may seek damages for violators.
- Identity theft victims and active duty military personnel have additional rights.