Fair Credit Reporting Act - A Summary of Your Rights
A Summary of Your Rights Under the Fair Credit Reporting Act

The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of
information in the files of consumer reporting agencies. There are many types of consumer
reporting agencies, including credit bureaus and specialty agencies (such as agencies that
sell information about check writing histories, medical records, and rental history records).
Here is a summary of your major rights under the FCRA.

  • You must be told if information in your file has been used against you. Anyone who
    uses a credit report or another type of consumer report to deny your application for
    credit, insurance, or employment – or to take another adverse action against you –
    must tell you, and must give you the name, address, and phone number of the agency
    that provided the information.

  • You have the right to know what is in your file. You may request and obtain all the
    information about you in the files of a consumer reporting agency (your “file
    disclosure”). You will be required to provide proper identification, which may include
    your Social Security number. In many cases, the disclosure will be free. You are
    entitled to a free file disclosure if:

  • a person has taken adverse action against you because of information in your
    credit report;
  • you are the victim of identify theft and place a fraud alert in your file;
  • your file contains inaccurate information as a result of fraud;
  • you are on public assistance;
  • you are unemployed but expect to apply for employment within 60 days.

In addition, by September 2005 all consumers will be entitled to one free disclosure every 12
months upon request from each nationwide credit bureau and from nationwide specialty
consumer reporting agencies.

  • You have the right to ask for a credit score. Credit scores are numerical summaries
    of your credit-worthiness based on information from credit bureaus. You may request
    a credit score from consumer reporting agencies that create scores or distribute
    scores used in residential real property loans, but you will have to pay for it. In some
    mortgage transactions, you will receive credit score information for free from the
    mortgage lender.

  • You have the right to dispute incomplete or inaccurate information. If you identify
    information in your file that is incomplete or inaccurate, and report it to the consumer
    reporting agency, the agency must investigate unless your dispute is frivolous.

  • Consumer reporting agencies must correct or delete inaccurate, incomplete, or
    unverifiable information. Inaccurate, incomplete or unverifiable information must be
    removed or corrected, usually within 30 days. However, a consumer reporting agency
    may continue to report information it has verified as accurate.

  • Consumer reporting agencies may not report outdated negative information. In
    most cases, a consumer reporting agency may not report negative information that is
    more than seven years old, or bankruptcies that are more than 10 years old.

  • Access to your file is limited. A consumer reporting agency may provide information
    about you only to people with a valid need -- usually to consider an application with a
    creditor, insurer, employer, landlord, or other business. The FCRA specifies those with
    a valid need for access.

  • You must give your consent for reports to be provided to employers. A consumer
    reporting agency may not give out information about you to your employer, or a
    potential employer, without your written consent given to the employer. Written
    consent generally is not required in the trucking industry.

  • You may limit “prescreened” offers of credit and insurance you get based on
    information in your credit report. Unsolicited “prescreened” offers for credit and
    insurance must include a toll-free phone number you can call if you choose to remove
    your name and address from the lists these offers are based on. You may opt-out
    with the nationwide credit bureaus at 1-888-5-OPTOUT (1-888-567-8688).

  • You may seek damages from violators. If a consumer reporting agency, or, in some
    cases, a user of consumer reports or a furnisher of information to a consumer
    reporting agency violates the FCRA, you may be able to sue in state or federal court.

  • Identity theft victims and active duty military personnel have additional rights.

For more information, including information about additional rights, write to: Consumer
Response Center, Room 130-A, Federal Trade Commission, 600 Pennsylvania Ave. N.W.,
Washington, D.C. 20580.
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