At Modestas Law, we help consumers who suffer from credit reporting agencies, information suppliers, or users denying them rights under the Fair Credit Reporting Act, also know as the "FCRA." You should know your rights under the law so you can protect your credit information and seek damages when those rights are violated.
The Fair Credit Reporting Act is a federal law that protects the integrity and privacy of your credit information. The Act regulates how your information is handled and gives you rights to access and correct inaccuracies in your credit report. If a credit reporting agency, information supplier, or someone who uses your credit information violates your rights under the FCRA, you may be able file an action in state or federal court for damages.
There are three types of entities subject to the FCRA:
If anyone in these categories violates your rights under the FCRA, you may be able to recover damages in court.
A credit reporting agency includes any business or person that collects and distributes or sells consumer credit information. The most common type is a credit bureau. The “big three” credit bureaus are Transunion, Experian, and Equifax, but there are also many other companies collecting and selling your information to people who make credit decisions about you.
These agencies prepare consumer credit reports containing information about your credit history, bill payment habits, and status of your credit accounts. The report may also include public records like liens, judgments, and bankruptcies. You are entitled to receive a free copy of your credit report once a year from each of the three major credit bureaus.
Under the FCRA, these specific requirements apply to all credit reporting agencies:
Any person or business furnishing your credit information to a credit reporting agency is covered by the FCRA as an information supplier. Generally, suppliers include creditors like banks and credit card companies, but suppliers may also be government agencies if you owe taxes, fines, or costs.
Under the FCRA, creditors and other information suppliers are required to:
Anyone who uses your credit information for credit, employment, or insurance purposes is covered by the FCRA. The person or business is required to:
Employers who use credit reports to screen job applicants or employees have specific obligations. If your credit report is used as part of a background investigation, employers must:
If a credit reporting agency, information supplier, or information user violates any of the provisions of the FCRA, you may be able to file a lawsuit for damages in state or federal court. You may be able to recover for:
If you experience any issue relating to your credit report, talk with our attorney for FCRA violations about whether you can bring an action to recover damages. If you are in Chicago, Cook County, DuPage County, or Will County, Modestas Law can help you. Contact us to schedule an initial consultation.