Fair Credit Reporting Act(FCRA):
The main function of the FCRA is to promote the accuracy of information gathered in consumer credit reports, and to ensure that this information is kept private. The FCRA dictates that consumer reporting agencies and credit bureaus, provide complete and correct information to other businesses for use when evaluating your credit application.

Equal Credit Opportunity Act(ECOA):
The ECOA ensures all consumers an equal opportunity to receive credit by prohibiting credit discrimination based on sex, race, marital status, religion, national origin, age, or receipt of public assistance. While creditors may be allowed to request this information in some situations, it cannot be used to discriminate against you when deciding whether or not to give you credit. This law also applies to businesses seeking credit.

Fair Credit Billing Act(FCBA) and Electronic Fund Transfer Act(EFTA):
The FCBA and EFTA set up guidelines for resolving inaccuracies on credit billing and electronic fund transfer account statements.

Fair Debt Collection Practices Act(FDCPA):
This law helps protect consumers from harassment by debt collectors by prohibiting debt collectors from using unfair, abusive, or deceptive practices to collect debts. The FDCPA applies to personal, family, and household debts, such as charge accounts, auto loans, and medical expenses.

Refer to our additional articles for more detailed information on each of these laws. For further information on these laws and other consumer and credit-related rights, visit the Federal Trade Commission's web site at www.ftc.gov.