Credit glossary
Fair Credit Reporting Act (FCRA)
The federal law at 15 U.S.C. 1681 and following that governs credit reports, who can see them, and how errors get fixed.
The FCRA sets most of the rules this site explains. It limits who can pull your report to those with a permissible purpose, caps how long most negative information can be reported at seven years and bankruptcies at ten, gives you the right to dispute errors with bureaus and furnishers, and requires adverse action notices when a report leads to a denial or worse terms. It also guarantees free security freezes.
Its section numbers show up everywhere, often garbled. Section 609 (15 U.S.C. 1681g) covers disclosure of your file, section 611 (1681i) covers bureau disputes, section 623 (1681s-2) covers furnisher duties, and section 605B (1681c-2) covers identity theft blocks. Knowing which section does what helps you spot a letter template that promises more than the law delivers.
Guides that go deeper
- The truth about 609 letters: what section 609 really gives youSection 609 of the FCRA gives you a copy of your credit file, not a way to delete accounts. What it requires, why template letters fail, and what works.
- How to dispute a credit report error, step by stepA step-by-step guide to disputing credit report errors with Equifax, Experian and TransUnion: online vs. mail, what to include, and how to keep proof.
- The 605B identity theft block: four business days, four documentsUnder FCRA section 605B, a bureau must block identity theft items within 4 business days of getting four things from you. What each one looks like, and the limits.
Sources
- 15 U.S.C. 1681b, Permissible purposes of consumer reports, Cornell Law School, Legal Information Institute
- 15 U.S.C. 1681c: Requirements relating to information contained in consumer reports, Legal Information Institute, Cornell Law School
- 15 U.S.C. 1681g, Disclosures to consumers (credit score and key factors), Legal Information Institute, Cornell
- 15 U.S.C. 1681i: Procedure in case of disputed accuracy, Legal Information Institute, Cornell Law School
- 15 U.S.C. 1681s-2: Responsibilities of furnishers of information to consumer reporting agencies, Legal Information Institute, Cornell Law School
- 15 U.S.C. 1681c-2: Block of information resulting from identity theft, Legal Information Institute, Cornell Law School
This is education, not legal or financial advice. Spot an error? Tell us and we'll fix it.