Consumer Report - answer Any written, oral, or other communication of any info by a
CRA bearing on a consumer's credit worthiness, standing, capacity, character, general
reputation, personal characteristics, or mode of living used or expected to be used or
collected for establishing consumer's eligibility:
3 Key Elements of a Consumer Report - answer1. By a CRA
2. Bearing on a consumer's worthiness
3. Used to establish eligibility
Consumer Reporting Agency - answer Engages in the assembly or evaluating of
consumer credit information or other information on consumers for the purpose of
furnishing consumer reports to third parties.
NOT CRAs - answerIsolated transactions
Conduit functions
Public entities
Employment Purposes - answerEvaluating a consumer for employment, promotion,
reassignment, or retention as an employee.
NOT Consumer Reports - answerReports made on "personal knowledge"
Reports made among persons/entities under "common control" (subsidiary and parent
corporations)
Reports made for purposes other than credit, insurance, or employment (skip tracing,
law enforcement, dating)
Lab reports from a lab directly to an employer.
Investigative Consumer Reports - answerInformation on a consumer's character,
general reputation, personal characteristics, or mode of living obtained through personal
interviews with neighbors, friends, or associates of the consumer reported on.
Excluded from Consumer Reports - answerArrest records more than 7 years old.
Negative credit data older than 7 years
Bankruptcies can be reported for 10 years.
5 Groups Affected by FCRA - answerCRAs
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