- The Fair Credit Reporting Act (FCRA) is a federal consumer law with significant influence.
- Enacted in the early 1970s, it applies nationwide and is aimed at regulating credit reporting.
- A key feature is its provision for consumers to dispute inaccuracies on their credit reports.
- When a consumer disputes an inaccuracy, credit reporting agencies must initiate an investigation.
- Non-compliance by agencies can lead consumers to seek legal redress in court, making FCRA a potent protective tool.
January 9, 2022