The Fair Credit Reporting Act: Because Apparently, Accuracy and Privacy Had to Be a Law

This document dives into the Fair Credit Reporting Act (FCRA)—because apparently, we needed a federal law just to make sure your credit report is somewhat accurate and your privacy isn’t optional. It spells out who’s allowed to snoop on your credit (think lenders, insurers, employers, and, of course, the government) and what skeletons—like ancient bankruptcies—should finally stop haunting your report. The FCRA gives you rights too, like checking your own file, disputing mistakes, and throwing up fraud alerts when identity thieves come calling. It also lays out the rules for credit bureaus and data furnishers, backed by various federal and state agencies who, in theory, enforce them. And yes, Congress keeps tweaking the rules, because nothing’s ever simple.