Fair Credit Reporting Act (FCRA)
The U.S. Fair Credit Reporting Act (updated May 2004) seeks to achieve private, fair, timely and accurate reporting of credit information by regulating the activities of credit bureaus and their reporting members, limiting access to individual credit information, and requiring creditors to disclose certain information regarding their use of credit bureau or third party information. It also provides a structure for the redress of identify theft and stipulates criteria for identification and authentication of a credit report request.

The issues surrounding compliance with the FCRA have become more complex over the last few years. Laws and regulations governing privacy, identity theft, homeland security, use of Social Security numbers, growth and sophistication of hackers and other information and privacy topics are being debated and adopted at both the federal and state levels. All of these public and private efforts to address the emerging technology challenges have an impact on lenders and other entities that provide information to credit reporting agencies.

T3i’s FCRA Assessment provides clients with a third-party, independent analysis to document their progress towards FCRA compliance and the protection of confidential information. In addition to the assessment, T3i provides clients with recommendations for aligning their security program with compliance requirements and can assist with the implementation of administrative and technical recommendations.

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