Final answer:
The Fair Credit Reporting Act entitles individuals to review their credit reports and provides rights and protections for their financial information.
Step-by-step explanation:
The Fair Credit Reporting Act entitles the applicant to review information by providing certain rights and protections regarding their credit reports. Under this act, individuals have the right to access their credit reports from credit reporting agencies, which include information about their credit history, loans, and payment history.
These credit reports allow applicants to review and verify the information being collected about them, ensuring its accuracy and relevance. Individuals can dispute any inaccurate or outdated information and request corrections to their credit reports.
The Fair Credit Reporting Act also requires credit reporting agencies to provide individuals with free annual credit reports upon request, allowing them to monitor their credit history for any suspicious activities or unauthorized access.