FCRA Reg V, Questions and answers, rated A+/ LATEST EXAM PREDICTIONS UPDATES, APPROVED.

FCRA Reg V, Questions and answers, rated A+ Define a consumer report under FCRA - -Any written or oral communication bearing on a consumer's individual creditworthiness or general reputation that is collected to establish the consumer's eligibility for credit or insurance, employment, or other authorized purposes Define a 'Consumer Reporting Agency' under FCRA - -Anyone who regularly engages in assembling or evaluating consumer credit or other information to furnish consumer reports to third parties A Credit Reporting Agency may report negative information for no longer than ____ years and bankruptcies for no longer than ____ years. - -7, 10 Name the six permissible purposes a Consumer Reporting Agency may furnish a consumer report. - -1. Authorized in writing by the consumer 2. Response to a court order 3. Connection with a credit or insurance transaction 4. Employment purposes 5. Legitimate business need 6. Financial institution (prescreen