03 Dec 2024
What You Should Know about the Credit Repair Organizations Act
Credit repair services are regulated under both federal and state laws. The Credit Repair Organizations Act (CROA) is a federal consumer protection law regulating credit repair service providers. Explore this practice note for an overview of CROA, its purpose, consumer protections, required consumer disclosures, prohibitions, the right to credit repair, and recent enforcement actions from federal banking agencies.
Related Content
- Fair Credit Reporting Act
Review this comprehensive overview of the Fair Credit Reporting Act and the requirements for collecting and reporting consumer personal information for credit, employment, insurance, and other purposes.
- Consumer Reports and Credit History Checks under the Fair Credit Reporting Act (FCRA)
Understand the federal requirements for requesting and using a consumer report from a consumer reporting agency.
- Telemarketing Compliance Checklist
Use this checklist covering compliance issues and best practices regarding the Federal Trade Commission's Telemarketing Sales Rule and the Telephone Consumer Protection Act of 1991.
Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.
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Review this informative guide featuring some of the recent content additions to Practical Guidance, designed to help you find the tools and insights you need to work more efficiently and effectively.
- Trends & Insights provides the latest in news articles and insight documents on trending areas for financial service organizations.
- Financial Services Regulation Trackers provides up to date information on legislation and key administrative proceedings from federal, state and local banking authorities.
- Document alerts allow you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.
- Explore the Chevron Reversal Impact Resource Kit for analysis related to the Supreme Court’s decision to overturn four decades of deference to federal agency interpretations of ambiguous statutes.
- State Law Comparison Tool—Topic: Financial Institution Regulation provides federal/state-specific guidance and the ability to compare state laws for banking and non-banking financial institutions in the areas of licensing, capital requirements, AML/CFT guidelines, recordkeeping, supervision, and enforcement authority.
- For Practical Guidance content on important recent trends, review these easy-to-use Resource Kits:
- The Fall 2024 Edition of The Practical Guidance Journal features guidance on the use of AI in employment decisions, AI considerations in acquisition agreements, Chevron deference reversal challenges in FDA rulemaking, 50 years of ERISA pension protection, plus obligations and risks related to the provision of anti-overdose medication in the workplace.
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- Listen Up! The Practical Guidance and Law360 Podcasts Resource Kit features interviews with industry-leading attorneys on cutting edge issues in the law: Generative AI, NFTs, Cannabis, and more.
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