How Does the Fair Credit Reporting Act Protect Me?
FCRA protects you from having inaccurate or obsolete information on your credit report. • It regulates how long information can remain on your credit report. While good credit information can stay on your report indefinitely, there are rules regarding how long negative information can show. • It regulates who can look at your credit report. Only people or entities with a “permissible purpose” may access your credit report. These can include a credit lender, landlord, employer, insurance agency and utility company. Report FCRA violations to the Federal Trade Commission (FTC); the FTC oversees all three of the major credit reporting agencies Fair Credit Billing Act The Fair Credit Billing Act regulates all credit and charge card billings related to: • Extending credit to someone not authorized to use your card • Extending credit for property of services you didn’t receive • Failure to credit your account correctly • Extension of credit for items returned because they were defective • To
