The Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq., is federal legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies. It was intended to shield consumers from the willful or negligent inclusion of erroneous data in their credit reports. To that end, the FCRA regulates the collection, dissemination, and use of consumer information, including consumer credit information. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/
Facts
EraSourced to the subject's own accountOriginally passed in 1970 (Pub. L. 91-508, 91st Congress); effective October 26, 1970, signed by President Richard Nixon. 1 Promulgated BySourced to the subject's own accountUnited States Congress, 91st Congress, signed by President Richard Nixon. 1 Jurisdiction ScopeSourced to the subject's own accountUnited States, federal law applicable nationwide to consumer reporting agencies and users of consumer report information. 1 Regulatory DomainSourced to the subject's own accountConsumer credit reporting and financial privacy. 1 Classification
Legal StatusSourced to the subject's own account Jurisdiction Scope
Jurisdiction Scope (category)Sourced to the subject's own account Era
Era (category)Sourced to the subject's own account20th Century (1900-1999) 1 Connections
Associated With
both form the core of US federal financial consumer privacy and credit reporting regulation, both FTC enforced
both are core US consumer credit protection statutes implemented via Regulation Z and Regulation V
Established By
FTC and CFPB rules implementing the Fair Credit Reporting Act, such as Regulation V, are adopted through Administrative Procedure Act rulemaking.
In Legal System
United States federal statute, within the common law tradition.
Source Major Legal Systems in the World TodayRene David and John E.C. Brierley
Long-Form Articles
Sources
1. Fair Credit Reporting Act (Wikipedia)
WikipediaLead paragraph (entity-description)
The Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq., is federal legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies. It was intended to shield consumers from the willful or negligent inclusion of erroneous data in their credit reports. To that end, the FCRA regulates the collection, dissemination, and use of consumer information, including consumer credit information.
Lead paragraph and infobox (era)
It was originally passed in 1970
- Lead paragraph (jurisdiction-scope)
- Infobox (enacted by, signed president)
- Lead paragraph (regulatory-domain)
In Group: United States Financial and Securities Statutes and Rules, Introduction, sentence 1
The Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq., is federal legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.
View the Source Major Legal Systems in the World Today
Rene David and John E.C. Brierley, Stevens and Sons, 1985In Legal System: Law of the United States
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