The Fair Reporting Act limits the sharing of credit information.

Question

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The Fair Reporting Act, also known as the Fair Credit Reporting Act (FCRA), regulates how credit information is collected, used, and shared by credit reporting agencies. One of the key provisions of the FCRA is to limit the sharing of credit information to only those entities that have a valid need for it, such as potential lenders, employers, and landlords. This is done to protect consumers' privacy and ensure that credit information is only used for lawful purposes.

The Fair Reporting Act Limits the Sharing of Credit Information