Under the Fair Credit Reporting Act, a Consumer Reporting Agency

question 144

Multiple Choice

Under the Fair Credit Reporting Act, a consumer reporting agency (credit bureau) must:

• A) allow consumers to see credit ratings of businesses
• B) allow consumers to see information about them that results in their being denied credit
• C) allow any citizen (or business), without discrimination, to obtain a copy of a consumer report on any person
• D) allow consumers to see credit ratings of businesses and allow any citizen (or business), without discrimination, to obtain a copy of a consumer report on any person
• E) allow consumers to see information about them that results in their being denied credit and allow any citizen (or business), without discrimination, to obtain a copy of a consumer report on any person

---

Definitions:

Enacted Special Legislation

Laws that have been passed to address specific issues, often pertaining to a particular locality or group, rather than general or widespread concerns.

Transfer of Shares

The process of moving ownership of shares from one party to another, either through sale, gift, or inheritance, commonly documented by a stock transfer form.

De Facto Corporation

A business entity that operates like a corporation but without legal incorporation status, often recognized by courts for liability purposes.

Defective Incorporation

A legal term referring to the situation where a company has been incorrectly or incompletely formed, potentially affecting its legal status and liabilities.