The FCRA establishes consumers' rights in relation to their credit reports and credit scores, as well as permissible uses of credit reports, disclosure requirements for credit reports and credit scores, and requirements for users of consumer credit reports and furnishers of information. The Fair and Accurate Credit Transactions Act of 2003 (FACT Act) amended the FCRA to include a number of provisions aimed at preventing identity theft and assisting victims. The Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act) strengthened protections for young consumers and advertising disclosures regarding free credit reports from consumer reporting agencies. More recently, the Consumer Financial Protection Act of 2010, part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), established the Consumer Financial Protection Bureau (CFPB or the Bureau) and transferred administrative functions, including rulemaking and reporting, as well as certain enforcement functions, from other federal agencies such as the Federal Trade Commission (FTC) and the Federal Reserve Board, to the Bureau. Medical information may be included in consumer reports under certain circumstances and if CRAs and creditors follow statutory and regulatory procedures and conditions to protect the confidentiality of such information. Credit scores may be based partly on the information in a credit report and are used to evaluate creditworthiness. Permissible Uses of Consumer Credit Reports

The FCRA outlines the purposes for which a consumer credit report may be furnished to a requester. Under the FCRA, consumers have the right to access all information in their credit reports, including the sources of the information, and the right to disclosure of their credit scores. In addition to their responsibilities related to the accuracy of information in consumers' files, credit reporting agencies must also ensure that consumer credit reports are released only for the purposes discussed above. The FCRA imposes specific requirements on persons who use consumer report information. Identity Theft Provisions

The FCRA includes a number of provisions aimed at preventing identity theft and assisting victims of identity theft. These provisions mirror laws passed by state legislatures and create a national standard for addressing consumer concerns with regard to identity theft and other types of fraud.
The purpose of the Fair Credit Reporting Act (FCRA) is "to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information." The FCRA establishes consumers' rights in relation to their credit reports, as well as permissible uses of credit reports. It also imposes certain responsibilities on those who collect, furnish, and use the information contained in consumers' credit reports. Additionally, it requires disclosure of credit scores in certain circumstances, including when adverse credit actions are based partly on a credit score.
The FCRA has been amended several times over the last decade. The Fair and Accurate Credit Transactions Act of 2003 (FACT Act, P.L. 108-159) amended the FCRA to include a number of provisions aimed at preventing identity theft and assisting victims. The Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act, P.L. 111-24) strengthened protections for young consumers and advertising disclosures regarding free credit reports from consumer reporting agencies. More recently, the Consumer Financial Protection Act of 2010, part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203), established the Consumer Financial Protection Bureau (Bureau) and transferred administrative functions, including most rulemaking and reporting, as well as certain enforcement functions, from other federal agencies, such as the FTC and the Federal Reserve Board, to the Bureau. For more information on the functions of the new Bureau, see CRS Report R41338, The Dodd-Frank Wall Street Reform and Consumer Protection Act: Title X, The Consumer Financial Protection Bureau, by [author name scrubbed].
This report discusses consumers' rights under the FCRA, as well as the type of information included in credit reports and credit scores, permissible uses of credit reports, disclosure requirements for credit reports and credit scores, and requirements for users of consumer credit reports and furnishers of information. It also addresses FCRA provisions aimed at preventing identity theft and assisting victims of identity theft. For further information on laws and issues related to identity theft, see CRS Report R40599, Identity Theft: Trends and Issues, by Kristin M. Finklea, and CRS Report RL31919, Federal Laws Related to Identity Theft, by [author name scrubbed]. For information on data security and the legislative efforts regarding such, see CRS Report RL34120, Federal Information Security and Data Breach Notification Laws, by [author name scrubbed], and CRS Report RL33273, Data Security: Federal Legislative Approaches, by [author name scrubbed].