Final answer:
The requirement for accessing a consumer report for someone not liable for loan repayment is written authorization from the consumer(option a). This ensures adherence to privacy laws and protects the consumer's personal and financial information.
Step-by-step explanation:
The requirement for obtaining a consumer report on an individual who is not personally liable for loan repayment is written authorization from the consumer. In the context of financial transactions and credit checks, it's imperative to ensure privacy and consent regulations are followed meticulously.
This is a standard practice aligned with privacy laws and regulations to protect the consumer's personal and financial information. Banks and other financial institutions typically require consent or authorization before they can legally acquire a consumer credit report on an individual, whether they are directly responsible for repaying a loan or not. Obtaining such reports without consent can lead to legal repercussions and a violation of a consumer's rights under the Fair Credit Reporting Act (FCRA).