Real Estate Glossary

What is Fair Credit Reporting Act.?

The Fair Credit Reporting Act (FCRA) is a federal law in the United States that regulates the collection, use, and dissemination of consumer credit information by credit reporting agencies. The FCRA sets the standards for credit reporting, and provides consumers with certain rights with regard to their credit information. It also establishes rules for credit reporting agencies and the entities that furnish information to the agencies.