FCRA (Fair Credit Reporting Act)
The 1970 federal law that governs credit bureaus, defines your rights over your credit file, and limits who can pull it.
The Fair Credit Reporting Act, passed in 1970, is the federal law governing consumer reporting agencies — the credit bureaus and similar data companies. It defines what they may collect, how long they may keep it, who may see it, and what you can do about errors.
The consumer rights it establishes are the practical part. You may see the information about you in each bureau's file, free through annualcreditreport.com. You may dispute inaccurate items; the bureau must investigate, typically within 30 days, and correct or delete verified errors. Most negative information drops off after seven years; certain bankruptcies, after ten. Someone pulling your report generally needs a permissible purpose — a credit application you initiated, an existing account review, or a comparable authorized reason.
The FCRA is administered jointly by the FTC and the CFPB, which publish plain-English consumer guides. Enforcement includes both agency action and a private right of action, so the rights are actually enforceable — not just aspirational.
Plumb is financial education, not financial, investment, tax, or legal advice.