Creditors That Use Information from Credit-Reporting Agencies Cannot Be Held

question 59

True/False

Creditors that use information from credit-reporting agencies cannot be held liable for violations of the Fair Credit Reporting Act.

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Definitions:

Profit Sharing

A business practice where employees receive a share of the company's profits, in addition to their regular salary.

Compensation Items

Refers to the various forms of pay or rewards given to employees for their work, including salaries, bonuses, benefits, and perks.

Organizational Structure

A system that outlines how activities are directed in order to achieve an organization's goals, including the roles, responsibilities, and communication paths.

Negotiation

A dialogue between two or more parties aimed at reaching a consensus or resolving differences.