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FCRA - Fair Credit Reporting Act Of 1999

What does it mean?

  • Promotes the accuracy, fairness and privacy of personal information assembled by Consumer Reporting Agencies (CRAs)
  • Requires CRAs to provide notice forms similar to those prescribed by the Federal Trade Commission
  • Governs other files of information collected and maintained on consumers that may not be on file with credit bureaus

Who is affected?

CRAs that gather and sell credit information such as:

  • Credit bureaus
  • Tenant or employment screening services or agencies whose data is limited to a consumer’s check writing history
  • Organizations or people who furnish consumer reports to third parties for profit

What is the impact? (penalties and fines)

  • Anyone who obtains information from a consumer reporting agency under false pretenses — $3,500, two years in prison, or both
  • Same for any officer or employee of a CRA bank who provides information from a bank’s files about a consumer to a person not authorized to receive it

How to reach compliance?

  • Provide a summary of rights under the law to consumers and a notice of responsibilities under the law to parties who obtain consumer reports or regularly furnish CRAs with consumer information
  • If a consumer disputes information provided, all relevant information provided by the CRA about the dispute must be investigated, reviewed, and reported to the CRA

Contact Us and a Cintas Document Management expert will do a no-obligation evaluation of your facility's information management needs.