Under the Fair Credit Reporting Act, a Consumer Who Has

question 47

Multiple Choice

Under the Fair Credit Reporting Act, a consumer who has been denied credit:

• A) cannot compel the credit reporting agency to delete any inaccurate or obsolete information from the file.
• B) is entitled to disclosure of the name and address of the credit reporting agency that made the report.
• C) can compel the credit reporting agency to delete disputed information without an investigation.
• D) is not entitled to a reinvestigation of the disputed information in the report made by the credit reporting agency.

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Definitions:

Behavior Alteration

The modification or change in individual or group behaviors, often initiated by interventions or environmental modifications.

Asymmetric Information

A situation where one party to a market transaction has more information about a product or service than the other. The result may be an under- or overallocation of resources.

Adverse Selection

A situation in insurance and finance where individuals with higher risks are more likely to purchase or participate in a plan, leading to higher than expected costs for insurers or lenders.

Marginal Benefit

The extra utility or satisfaction obtained through the consumption of an additional unit of a good or service.