The Fair Credit Reporting Act (FCRA) was enacted in 1970 and has been strengthened several times since. It governs how consumer reporting agencies — including the three major credit bureaus (Equifax, Experian, and TransUnion) — collect, maintain, and share information about you.

If you have ever been denied a loan, a job, or an apartment because of something on your credit report, the FCRA is the law that determines whether that information was accurate, fair, and legally obtained.

The FCRA applies to three main categories of entities:

Consumer Reporting Agencies (CRAs) — The big three bureaus, but also specialty reporting agencies that compile reports for employment, tenant screening, insurance, and other purposes.

Furnishers — Companies that send information to the credit bureaus. This includes banks, credit card companies, debt collectors, and any other business that reports your payment history or account status.

Users — Employers, landlords, lenders, and others who pull your credit report. They must have a permissible purpose to do so and must follow specific rules when taking adverse action based on what they find.

Credit bureaus and furnishers must maintain reasonable procedures to ensure the accuracy of the information they report. If something on your report is wrong — a debt that isn't yours, an account listed as delinquent when you paid on time, a balance that's incorrect — that may be a violation.

You have the right to dispute any information you believe is inaccurate or incomplete. When you do, the credit bureau must conduct a reasonable investigation — typically within 30 days — and correct or delete information that cannot be verified.

Critically, the furnisher (the company that reported the information) also has obligations when a dispute is forwarded to them. They must investigate, review all relevant information, and report the results back to the bureau.

You are entitled to a free copy of your credit report from each of the three major bureaus once every 12 months through AnnualCreditReport.com. You are also entitled to your report when you are denied credit, employment, housing, or insurance based on it.

You can opt out of receiving unsolicited credit and insurance offers that are based on your credit file.

This is where the FCRA has real teeth. If a credit bureau, furnisher, or user of your credit report willfully violates the FCRA, you are entitled to:

• Actual damages — the real financial harm you suffered
• Statutory damages — between $100 and $1,000 per violation, even if you cannot prove specific harm
• Punitive damages — in cases of egregious conduct
• Attorney's fees and costs — meaning a qualified attorney can often take your case at no upfront cost to you

For negligent violations, you can recover actual damages plus attorney's fees.

In my experience as a former FTC attorney, the most common violations I see include:

• Failure to investigate disputes — The bureau or furnisher goes through the motions without actually reviewing the evidence you submitted
• Reinsertion of deleted information — A bureau removes an item after a dispute, then puts it back without notifying you
• Reporting debts past the seven-year limit — Most negative information must be removed after seven years
• Mixed files — Your file gets confused with someone else's, often due to a similar name or Social Security number
• Identity theft accounts — Accounts opened fraudulently in your name that the bureaus refuse to remove

1. Get your credit reports — Review all three carefully for errors, outdated information, or accounts you don't recognize
2. Document everything — Keep records of what you find and when
3. Dispute in writing — Send disputes to the credit bureau by certified mail, keeping copies of everything
4. Consult an attorney — If the bureau or furnisher fails to correct a legitimate error, you may have a claim worth pursuing

The FCRA is a powerful tool, but it requires knowing how to use it. If you believe your rights have been violated, I am happy to review your situation at no charge. Learn more about FCRA representation or contact us for a free consultation.

Sana Chriss is a consumer protection attorney and former attorney with the Federal Trade Commission's Consumer Protection Division. She represents Georgia consumers in FCRA credit reporting violations, FDCPA debt collection, and consumer protection matters.