Which federal consumer credit law places the maximum cost of a credit report at $8?
A)Consumer Credit Reporting Reform Act
B)Fair and Accurate Credit Transactions Act
C)Fair Debt Collection Practices Act
D)Fair Credit Billing Act
E)Truth in Lending Act

Question

Quizplus · Accepted Answer

The Consumer Credit Reporting Reform Act is part of the Fair Credit Reporting Act (FCRA) amendments, which include provisions to ensure fair and accurate credit reporting. One of these provisions caps the cost of purchasing your own credit report at a reasonable fee, historically set at $8, to ensure consumers can access their credit information affordably.

Which Federal Consumer Credit Law Places the Maximum Cost of a Credit