Consumer Comeback Blog

Credit Score Glossary: Fair Credit Reporting Act

Fair Credit Reporting Act (FCRA): A U.S. federal law enacted in 1970 that regulates the collection, distribution, and use of consumers’ credit information.

Under this legislation consumers have the right to be notified of reporting activities, the right to access of information contained in consumer reports, and the right to have erroneous information corrected that might have been the cause of a denial for credit. If a consumer is denied credit based on information from a credit report, the FCRA states the consumer must be given the name and address of the credit bureau that furnished the report.

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