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The FCRA requires any prospective user of a consumer report, for example, a lender, insurer, landlord, or employer, among others, to have a legally permissible purpose to obtain a report. Legally Permissible Purposes.

Common violations of the FCRA include: Failure to update reports after completion of bankruptcy is just one example. Agencies might also report old debts as new and report a financial account as active when it was closed by the consumer. Creditors give reporting agencies inaccurate financial information about you.

Section 623(e). The FCRA prohibits information furnishers from providing information to a CRA that they know or have reasonable cause to believe is inaccurate.

Generally, Section 623 of the FCRA applies to any “person” who furnishes information related to a “consumer” to a “consumer reporting agency.” The term person is broadly defined as “any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or ...

When your credit circumstances have changed, and the information in your credit report isn't updated to reflect these changes, this failure might be a violation of the FCRA. Some examples of violations include: failing to report that a debt was discharged in bankruptcy. reporting old debts as new or re-aged.

The FCRA also prohibits the provision of reports that contain medical information for employment purposes without notice and explicit affirmative consent for release of the health data. It is important to note that the FCRA does not apply to investigations performed by companies or individuals who are not CRAs.

Responsibilities of furnishers of information to consumer reporting agencies. (a) Duty of Furnishers of Information to Provide Accurate Information. (1) Prohibition. (A) Reporting information with actual knowledge of errors.

If you want your credit reports to state a new name, address or employer, get in touch with your creditors and ask them to change their records. Your addresses, names and jobs aren't factored into your credit scores, but it's better to be prudent and keep your information up-to-date.

Section 624 generally provides that if a person receives certain consumer eligibility information from an affiliate, the person may not use that information to make solicitations to the consumer about its products or services, unless the consumer is given notice and an opportunity and a simple method to opt out of such ...