What Is the Fair Credit Reporting Act?

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Is the Purpose of the Fair Credit Reporting Act (FCRA)?
What Are Your Rights Under the FCRA?
The right to be told if information in your credit report has been used against you
The right to know what your credit report file says about you
The right to ask for your credit score
The right to dispute false or misleading information in your credit report
The right to opt out of prescreened offers of credit or insurance
The right to obtain a security freeze on the release of your credit report
The right to seek damages if your FCRA rights are violated
How Does the FCRA Work?
How Does the FCRA Help Borrowers?
Basic Rights
Credit Report Access
Protected Access
Accuracy
Remove Outdated Information
Private Medical Information
Personal Account Numbers
Damages
Credit Scores
Other Laws That Protect Borrowers
The Truth in Lending Act
Equal Credit Opportunity Act
Dodd-Frank Wall Street Reform and Consumer Protection Act
Military Lending Act
Finding the Credit Card That's Right for You
The Takeaway
Frequently Asked Questions
About the Author
Sulaiman Abdur-Rahman writes about personal loans, auto loans, student loans, and other personal finance topics for Lantern. He’s the recipient of more than 10 journalism awards and currently serves as a New Jersey Society of Professional Journalists board member. An alumnus of the Philadelphia-based Temple University, Abdur-Rahman is a strong advocate of the First Amendment and freedom of speech.
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