Final answer:
Agencies can furnish consumer reports under the Fair Credit Reporting Act (FCRA), specifically Section 604. This section outlines permissible purposes for such reports to be provided, requiring consumer consent or a valid legal purpose.
Step-by-step explanation:
Agency can furnish a consumer report under the Fair Credit Reporting Act (FCRA), specifically under Section 604 [ยง 1681b]. This section delineates the conditions under which consumer reporting agencies can provide consumer reports to third parties.
For instance, such reports can be given for credit transactions, employment purposes, or insurance underwriting, provided there is a valid consumer consent or a permissible purpose as defined by the FCRA.It's essential for agencies to comply with this section to avoid legal issues and to protect consumer data privacy. Non-compliance can lead to significant legal consequences, including fines and lawsuits.