Under the Fair Credit Reporting Act, a consumer reporting agency, on request by and proper identification of the consumer, must clearly and accurately disclose to the consumer:
the nature and substance of certain information in its files on the consumer;
the sources of most of that information;
the recipients of any consumer report on the consumer furnished for employment purposes within the two-year period preceding the request, and for any other purpose within the one-year period preceding the request;
the dates, original payees, and amounts of any checks on which is based any adverse characterization of the consumer, included in the file at the time of the disclosure; and
a record of all inquiries received by the agency during the one-year period preceding the request that identified the consumer in connection with a credit or insurance transaction that was not initiated by the consumer.
North Carolina Request for Disclosure Regarding Nature and Substance of Files of Consumer Reporting Agency
Description
How to fill out Request For Disclosure Regarding Nature And Substance Of Files Of Consumer Reporting Agency?
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FAQ
Disclosures to consumers. (a) Every consumer reporting agency shall, upon request and proper identification of any consumer, clearly and accurately disclose to the consumer: (1) The nature and substance of all information (except medical information) in its files on the consumer at the time of the request.
A consumer report can contain a wide variety of information including credit history, past bankruptcy, judicial records, employment records, and even online activity. This information can only be accessed with approval from the individual and is highly regulated by the Fair Credit Reporting Act (FCRA).
However, credit scores and risk predictors need not be disclosed. The sources of this information should be revealed, except for sources used exclusively for investigative consumer reports. In case of legal action, the sources must be made available to the plaintiff through appropriate court procedures.
Consumer reporting companies collect information and provide reports to other companies about you. These companies use these reports to inform decisions about providing you with credit, employment, residential rental housing, insurance, and in other decision-making situations.
Employment background checks also are known as consumer reports. They can include information from a variety of sources, including credit reports and criminal records.
Information excluded from consumer reports further include: Arrest records more than 7 years old. Items of adverse information, except criminal convictions older than 7 years. Negative credit data, civil judgments, paid tax liens, and/or collections accounts older than 7 years.
The long version of the report, which includes every inquiry on your file, is called a "consumer disclosure; it can only be viewed by you and not current creditors or potential future lenders.
The Fair Credit Reporting Act (FCRA) mandates that when a business pulls a credit report on someone, they must specify the reason, such as: In conjunction with a loan request. For employment purposes.
