Fair Credit Reporting Act (FCRA) - Provisions and Civil Liabilities for Wilful Violations

• By: Staff Editor
• Date: July 08, 2009

The Fair Credit Reporting Act (FCRA), Public Law No. 91-508, was enacted in 1970 to promote accuracy, fairness, and the privacy of personal information assembled by Credit Reporting Agencies (CRAs). Recent amendments to the Act expanded an individual’s rights and placed additional requirements on CRAs. Businesses that supply information about individuals to CRAs and those that use consumer reports also have new responsibilities under the law.