Question

Which federal legislation regulates credit reporting agencies and lenders concerning credit reporting?

A. Fair Credit Reporting Act (FCRA).
B. Equal Credit Opportunity Act (ECOA).
C. Truth in Lending Act (TILA).
D. Home Ownership and Equity Protection Act (HOEPA).

Answer 1

The Fair Credit Reporting Act (FCRA) is the federal legislation that regulates credit reporting agencies and lenders concerning credit reporting.

Step-by-step explanation:

The federal legislation that regulates credit reporting agencies and lenders concerning credit reporting is the Fair Credit Reporting Act (FCRA).

The FCRA was passed in 1970 and is designed to protect personal financial information collected by credit reporting agencies.

Under the FCRA, consumers have the right to access and correct their credit reports, and lenders are required to provide accurate and fair information to credit reporting agencies.