The Fair Credit Reporting Act, 15 U.S.C. § 1681, is U.S. Federal Government legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.

The FCRA applies to any company that collects and sells data about you to third parties. Such companies, known as consumer reporting agencies, must follow the stipulations of the FCRA. Contrary to what many people believe, credit bureaus aren’t government agencies. Rather, they are for-profit, publicly traded companies.

The FCRA also regulates businesses that share your information with consumer reporting agencies. These companies are known as data furnishers, and may include banks, credit unions, credit card issuers, collection agencies and other types of creditors.

The FCRA spans about 100 pages in length. The contents of this federal law cover many rules and regulations. These rules pertain to credit reporting, identity theft, the privacy of consumer information and more. Some of the major rights protected under the FCRA are:

Title VII protects employees or applicants from discrimination in the many employment activities, including:

You have the right to know what is in your file
You have the right to ask for a credit score
You have the right to dispute incomplete or inaccurate information
Consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable information
Consumer reporting agencies may not report outdated negative information
Access to your file is limited
You must give your consent for reports to be provided to employers
You may limit "pre-screened" offers of credit and insurance you get based on information in your credit report
You may seek damages from violators

ITGS Group and Fair Credit Reporting Act (FCRA)

ITGS Group complies with all the requirements of the FCRA. The data will be used for consumer reporting purposes pursuant to the FCRA. Moreover, ITGS Group is in full compliance with all applicable accuracy, fairness, and privacy of consumer information related laws, rules, and regulations. Furthermore, as a furnisher of information to its clients, ITGS Group certifies that it has established and implemented written policies and procedures regarding the accuracy and integrity of information.