North Dakota Prospective User's Certification of Purposes For Which Consumer Reports Will Be Used

State:
Multi-State
Control #:
US-01415BG
Format:
Word; 
Rich Text
Instant download

Description

Consumer reporting agencies, under 15 U.S.C.A. § 1681e, must require that prospective users of consumer reports:


identify themselves,


certify the purposes for which the information is sought, and


certify that the information will be used for no other purpose.

How to fill out Prospective User's Certification Of Purposes For Which Consumer Reports Will Be Used?

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FAQ

Lenders may use your credit report information to decide whether you can get a loan and the terms you get for a loan (for example, the interest rate they will charge you). Insurance companies may use the information to decide whether you can get insurance and to set the rates you will pay.

The Overall Score for Appliances, Home Products, and Consumer Electronics is based on a compilation of data from lab testing, and includes Predicted Reliability and Owner Satisfaction for many product categories, and may also include Data Security and Privacy.

The correct answer is D) Verification of identity. A consumer report is typically used for evaluating an individual's creditworthiness, eligibility for insurance, and employment purposes.

Examples of permissible purposes include subpoenas or court orders, written instructions from the consumer, credit transactions with a consumer, employment purposes with written authorization from a consumer, insurance underwriting purposes, tenant screening, and national security investigations.

A consumer report is background information collected by consumer reporting agencies and used by employers and creditors in determining whether to hire or loan to an individual.

Employment background checks also are known as consumer reports. They can include information from a variety of sources, including credit reports and criminal records.

Consumer Reports is an independent, nonprofit member organization that works side by side with consumers for truth, transparency, and fairness in the marketplace. Consumer Reports works to create a fair and just marketplace for all.

It's important to review your credit reports from the three nationwide consumer reporting companies?Equifax, TransUnion, and Experian?every twelve months to ensure they are accurate and complete.

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North Dakota Prospective User's Certification of Purposes For Which Consumer Reports Will Be Used