Congress revised the Fair Credit Reporting Act in Novemeber, 2003 to protect consumers’ rights and promote accuracy, fairness and privacy of information in the files of consumer or credit reporting agencies (CRAs). These agencies gather and sell information about you – such as whether you pay your bills on time or have filed bankruptcy – to creditors, employers, landlords and other businesses.

The FCRA gives consumers specific rights, as outlined below:

1. You must be told if information in your file has been used against you.
2. You can find out what is in your file.
3. You can dispute inaccurate information with the credit reporting agency.
4. Inaccurate information must be corrected or deleted.
5. You can dispute inaccurate items with the source of the information.
6. Outdated information may not be reported.
7. Access to your file is limited.
8. Your consent is required for reports that are provided to employers or reports that contain medical information.
9. You may choose to exclude your name from credit reporting agency’s lists for unsolicited credit and insurance offers.
10. You may seek damages from violators.

To read more about FCRA, consult the Federal Trade Commission Web site

National Association of REALTORS^®, "The Fair Credit Reporting Act & Your Credit History" Brochure.

The Federal Reserve Board’s Consumer Handbook to Credit Protection Laws