Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) has been a law for over 40 years. There have been updates to the law with the changes and additions of the Fair and Accurate Transactions Act (FACT Act), and more recent changes with the Economic Growth, Regulatory Relief and Consumer Protection Act.


The primary purpose of the FCRA is to require that consumer reporting agencies (“CRAs”) adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of the information in accordance with the requirements of the FCRA.



In carrying out its purpose, the FCRA places certain duties on both CRAs and entities that furnish information to them and use information obtained from them.


For additional resources on the topic of Fair Credit Reporting Act Rules visit the following pages: