Description
Understand the Fair Credit Reporting Act and the role it plays in regulating the behavior of credit reporting agencies and creditors.
Before enacted laws and regulations, credit reporting was a subjective process that was invasive to consumer privacy and difficult to address errors. Information regarding consumers private disposition was held in secret databases with access limited to creditors and public agencies.
This presentation explains the implementation of the FCRA and the role it has played for decades in ensuring the privacy of consumers and regulating the behavior of credit reporting agencies and creditors toward consumers right to privacy and right to address misinformation on their credit reports. We will also explain the repercussions of bad behavior by these entities and the remedies available to consumers whose rights are violated.
Date: 2023-01-26 Start Time: 1:00 PM ET End Time: 1:30 PM ET
Learning Objectives
* You will be able to define the FCRA.
* You will be able to describe the purpose of the FCRA.
* You will be able to explain measures required by the FCRA for ID theft prevention.
* You will be able to identify noncompliant actions by credit reporting agencies.