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Term Definition Fair Credit Reporting Act (1997) - a federal law that regulates credit bureaus and protects consumers.
Application in Divorce Credit reports are very frequently riddled with errors and mistakes. The Fair Credit Reporting Act given the borrow a right to annually receive a copy of his or her credit report and correct mistakes.

The Fair Credit Reporting Act makes certain that credit reports are accurately maintained. The purpose of this act is make certain that consumer reporting is conducted fairly and equitably, particularly with regard to privacy protections.

See Credit Bureau.