Which of the following regulates the consumer credit reporting industry?
A) The Equal Credit Opportunity Act
B) The Fair Credit Reporting Act
C) The Truth-in-Lending Act
D) The Fair Debt Collection Practices Act
E) The Uniform Consumer Leases Act

Question

Quizplus · Accepted Answer

Although most of the information contained in credit reports is accurate, the harm caused by occasionally inaccurate information and the potential for undue invasion of privacy led Congress to pass the Fair Credit Reporting Act. The law regulates credit reports on consumers but not those on businesses.

Which of the Following Regulates the Consumer Credit Reporting Industry