Exam (elaborations)
Ch 6-(Test 3)-Fair Credit Reporting Act (FCRA) Questions with Solutions 2024
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Ch 6-(Test 3)-Fair Credit Reporting Act (FCRA)
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Ch 6-(Test 3)-Fair Credit Reporting Act(FCRA)
Under the FCRA credit bureaus are considered to be what? - answer consumer
reporting agencies-those who use credit information and other information gathered by
third parties to make important decisions
What are the 5 major provisions of the FCRA? - answer-Notice, authorization, &
certification procedures
-Address-checking procedures
-Adverse action procedures
-Disposal rules
-Furnisher rules
Background checks are considered to be ________ under the FCRA. -
answerconsumer reports
Based in part on personal interviews that go beyond simply verifying facts that the
person has provided to the employers. - answerInvestigative consumer report
What federal agency administers the FCRA? - answerFederal Trade Commission (FTC)
Employers may request a consumer report on applicant or employee only for
______________ purposes. - answeremployment
If an employer uses an outside agency to investigate an employee's suspected violation
of a law or regulation the investigation is excluded from the definition of ___________. -
answer"consumer report" under the FCRA.
Why is the address-checking procedure required under the FCRA? - answer-An
employer that receives a notice of address discrepancy from a consumer reporting
agency after requesting a consumer report must take steps to verify the identity of the
subject of the report.
-it must follow reasonable procedures to determine that the report is actually about the
person on whom the employer requested the report
-means of verifying the identification of a person
What is the time limit imposed under the Disposal Rule? - answerdoes not impose time
limits for destroying consumer information
, Why do employers need to retain consumer information on applicants and employees? -
answerits a self defense, to refute an employment discrimination claim.
If a current of former employee disputes the information an employer has contributed,
the employer must conduct a ________________. - answerreasonable investigation
If an individual thinks the employer has violated the FCRA, the employee can sue the
employer in ___________. - answerfederal district court
What is the statute of limitations in the above situation? - answerwithin 2 years of the
violation
Under what situation does the above not apply? - answerwillful violation
The statute of limitations then becomes what? - answer2 years after discovery of false
information
adverse action - answerany decision made by an employer for employment purposes
that negatively affects an employee or applicant
consumer report - answerwritten or oral information that (1) will be used for employment
purposes, (2) comes from a consumer reporting agency, and (3) relates to a person's:
-creditworthiness
-credit standing
-credit capacity
-general reputation
-personal characteristics, or
-lifestyle
consumer reporting agency - answerperson or an entity that regularly provides
consumer reports to third parties
employment purposes - answerto use information to decide whether to hire, promote,
reassign, or terminate someone
investigative consumer report - answera consumer report based at least in part on
personal interviews that go beyond simply verifying facts that the person has provided
to the employer
furnisher - answeran entity provides info. relating to consumers to a consumer reporting
agency for inclusion in a consumer report
integrity - answerinfo. furnisher provides to consumer reporting agency about someone
is substantiated by the furnisher's records when it is provided, and is provided in form
and manner designed to minimize likelihood that info. may be incorrectly reflected in a
consumer report
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