Fair Credit Reporting Act

By: Jacob&Mason

Basic Info.

It is a federal law that regulates the collection, dissemination, and use of consumer information. It was passed in 1970.

Before it.

Before this law was places private companies could and would track your credit information. They made this law to make it fair for all companies in the market.

Who was affected.

All consumers were affected. This helped all consumers from being tracked by there credit from companies that got ahold of it.