Question

Which Act allows consumers one free credit report per year from each repository?

A) The Fair Credit Reporting Act (FCRA)
B) The Consumer Credit Protection Act (CCPA)
C) The Consumer Financial Protection Act (CFPA)
D) The Credit Reporting and Fair Debt Collection Practices Act (CRFDCPA)

Answer 1

The Fair Credit Reporting Act (FCRA) allows consumers one free credit report per year from each repository. Option A.

Step-by-step explanation:

The correct answer is A) The Fair Credit Reporting Act (FCRA).

The Fair Credit Reporting Act (FCRA) allows consumers to access one free credit report per year from each of the three major credit repositories: Equifax, Experian, and TransUnion. The purpose of this act is to ensure that consumers have access to accurate and reliable credit information, as well as to protect their privacy.

Under the FCRA, consumers have the right to request their free credit reports by visiting the official website annualcreditreport.com or by calling the toll-free number 1-877-322-8228.

Option A.