The Fair Credit Reporting Act (FCRA) was originally intended to provide consumers with the ability to correct inaccurate credit information that could affect their access to credit, employment, insurance, and other benefits. The FCRA gives consumers the right to access their credit reports from the three major credit reporting agencies (Equifax, Experian, and TransUnion) for free once every 12 months, and to dispute any errors or inaccuracies with the credit reporting agencies or the information furnishers (such as lenders, creditors, or debt collectors). The FCRA also requires the credit reporting agencies and the information furnishers to investigate and resolve the disputes within 30 days, and to delete or correct any information that is found to be inaccurate, incomplete, or outdated. The FCRA also provides consumers with the right to place fraud alerts or security freezes on their credit reports if they are victims or potential victims of identity theft, and to receive notifications from users of their credit reports (such as employers or insurers) if any adverse action is taken based on their credit information. References:
* Fair Credit Reporting Act - Wikipedia
* What is the Fair Credit Reporting Act (FCRA)? | Money
* The Fair Credit Reporting Act of 1970 - The Balance
* How the Fair Credit Reporting Act (FCRA) Protects Consumer Rights