The federal Fair Credit Reporting Act (FCRA) was created to promote accurate, fair, and private filing of information by consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (those that sell information about check writing history, medical records, rental history, etc). Most familiar to everyone are the 3 national credit bureaus: Experian, Equifax, and TransUnion. Here is a summary of consumer’s major rights under the FCRA:
- You must be told if information in your file has been used against you.
- You have the right to know what is in your file.