Fair Credit Reporting Act Flashcards
1
Q
True or False
FCRA includes business accounts.
A
False
Only consumer purpose
2
Q
What type of information is included in FCRA informing sharing?
A
Credit bureau information, credit score and transactional information
3
Q
What type of information sharing is covered in FCRA?
A
Affiliates-cross ownership or control
Unlike, privacy act ( Reg P) which covers bank and non affiliate information sharing.
4
Q
What type of transactions can a credit report be used for?
A
- credit or insurance to be used for personal,family or household purpose
- employment
- any other authorized purposes
