Under the Fair Credit Reporting Act, certain types of adverse information may not be maintained in a consumer's credit report for more than seven years.

Question

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The Fair Credit Reporting Act (FCRA) stipulates that most types of adverse information, such as late payments, foreclosures, and bankruptcies, must be removed from a consumer's credit report after seven years, with certain exceptions like Chapter 7 bankruptcy, which can stay for up to 10 years.

Under the Fair Credit Reporting Act, Certain Types of Adverse