Question

Which act provides a framework for the corrective action you can take to correct errors in your credit report? A) Fair Credit Billing Act B) Magnuson-Moss Warranty Act C) Fair Credit Reporting Act D) Fair Debt Collection Practices Act

Answer 1

Fair Credit Reporting Act

Answer 2

The correct answer is C) Fair Credit Reporting Act.

The Act that provides a framework for the correcting action you can take to correct errors in your credit report is the Fair Credit Reporting Act.

The Fair Credit Reporting Act was enacted in October 1970. It was a piece of legislation created to protect consumers when they had problems or inaccuracies with their credit reports. The Act oversees the collection of information and the use credit institutions give to the consumer information. The Act protects the client information on the reports because is sensitive information about the way people use their money.