What Are the Main Goals of the Fair Credit Reporting

question 50

Essay

What are the main goals of the Fair Credit Reporting Act (FCRA)? Under what conditions is this act not applicable?

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Definitions:

Private Ownership

The ownership of assets, properties, or businesses by individuals or corporations rather than the government or public entities.

Values

Core beliefs or principles that guide an individual's or society's behaviors, decisions, and actions.

Transaction

Any agreement or exchange between two parties where goods, services, or money are passed from one to the other.

Pay Phone

A public telephone that operates with the insertion of coins or by credit card payment.