What You Need to Know About Fair Credit Reporting Act Disclosures

Persons or entities that assemble or evaluate consumer credit information and furnish these consumer reports to third parties are consumer reporting agencies under the federal Fair Credit Reporting Act (FCRA). Consumer reporting agencies are responsible for clear and accurate disclosure to a consumer upon request. Explore this FCRA video, by Kirk Nahra, Partner at WilmerHale, for key information on disclosure and reporting requirements by consumer reporting agencies.

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Related Content                                                 

• Fair Credit Reporting Act
  Explore this practice note for overview of the FCRA and the basic disclosure and reporting framework for consumer reporting agencies.

• Fair Credit Reporting Act (FCRA) Pre-adverse Action Disclosure Notice
  Utilize this FCRA disclosure template to notify an applicant or employee of an adverse action based on information contained in a consumer report or investigative consumer report.

• Fair Credit Reporting Act (FCRA) Disclosure regarding the Procurement of Consumer and Investigative Consumer Reports
  Start with this template when notifying an applicant or employee of the entity’s intent to obtain a consumer or investigative consumer report pursuant to the FCRA. This template includes guidance, drafting notes, and alternate clauses.

• Fair Credit Reporting Act (FCRA) and State Mini-FCRAs: Step-by-Step Guidance for Compliance
  Read this comprehensive guidance on handling consumer reports and investigative consumer reports under the FCRA, which regulates how an employer may collect and use employee and applicant information provided by third-party consumer reporting agencies.

• Fair Lending Laws and Enforcement Trends
  Explore the primary federal fair lending laws that received a greater level of regulatory scrutiny historically. This practice note summarizes fair lending enforcement activity and recent trends in this area.

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