What Do Credit Reports Cover?
A great deal of consumer credit and
- Credit standing
- Credit capacity
- General reputation
- Personal characteristics
- Mode of living
What is the practical effect of these definitions? Reports that address likely income, educational background, criminal records, other public record information, telephone service history, payday loans, and asset ownership all fall under the purview of the FCRA. Reports about a renter’s history including payment history, evictions, and his or her treatment of premises each would qualify as a consumer report. Driving records can contain personal information that bears on a consumer’s individual characteristics and may be considered a consumer report.
The FCRA also regulates consumer reporting agencies including a failure to provide a consumer report upon request. In addition, the FCRA prohibits requesting someone’s credit report for an impermissible purpose. Otherwise known as “impermissible pulls,” improperly accessing a consumer’s credit report exposes the wrongdoer to significant liability under the FCRA.
It is important to know that consumer credit reports address more than whether you paid off your mortgage or made your car payments on time. Your rights as a consumer may be addressed by the FCRA under a much broader range than many consumers are aware.
For more information, visit http://nyconsumerlaw.com/