Fair Credit Reporting Act compliance can become a potential minefield if issues are not addressed carefully
Although consumer protection laws for credit reporting have been around for decades, regulators are continuing to intensify their scrutiny of organizations that are required to comply with the Fair Credit Reporting Act (FCRA). Institutions that furnish information to or retrieve data from consumer reporting agencies need to ensure they have robust FCRA practices and systems that can withstand this ongoing level of scrutiny. Companies that fail to meet their regulatory obligations could incur significant fines and penalties.
Watch the following video to learn more.