Which federal consumer credit law places the burden of proof for accurate credit information on the credit reporting agency rather than on the consumer?
A)Consumer Credit Reporting Reform Act
B)Truth in Lending Act
C)Fair Credit Billing Act
D)Equal Credit Opportunity Act
E)Fair Debt Collection Practices Act

Question

Quizplus · Accepted Answer

The Consumer Credit Reporting Reform Act is part of the Fair Credit Reporting Act (FCRA) amendments made in 1996, which shifted the burden of proof for accurate credit information onto the credit reporting agencies, ensuring they must verify the accuracy of information disputed by consumers.

Which Federal Consumer Credit Law Places the Burden of Proof