What’s a Consumer Report?

The Fair Credit Reporting Act (FCRA) is concerned with a consumer’s rights in relation to their credit report and sets forth requirements for both the credit reporting agencies as well as the businesses that provide information to them.

It’s not uncommon for lenders to believe that if they order a consumer report in connection with a business purpose/commercial transaction, the consumer to which that report belongs is not a consumer for the purpose of that transaction. That’s a huge misconception!

Jerod explains more in the video.

Ready to learn more? JOIN US for our webinar, “FCRA / FACT Act.” Featured topics include:

• Obtaining Credit Reports & Permissible Use
• FCRA Adverse Action Notice Requirements
• Identity Theft Prevention Programs & Red Flags
• Credit Score Disclosures & Risk-Based Pricing Notices
• Providing Notices of Negative Information
• Direct Disputes & Investigations
• Fraud Alert Responsibilities
• Identifying & Correcting Address Discrepancies
• Affiliate Marketing Opt-Out Requirements

Published
2022/08/29