FCRA: Consumer Reports

This FCRA: Consumer Reports online training course explores Consumer Reports. The Fair Credit Reporting Act (FCRA) stipulates how consumer reporting information may be accessed and by whom. The FCRA states that anyone wanting access to a consumer report must have a legally permissible purpose for obtaining the consumer report. The FCRA sets the responsibilities for users of consumer reports in order to protect the consumer’s information from being used in an illicit manner. This course provides an overview of consumer reports and the rules banks must follow when obtaining and using consumer reports. This course is intended for all personnel who use consumer reports for any purpose within the bank.

Course Learning Objectives

By taking this online FCRA: Consumer Reports course, the user will learn:

• What a consumer report is and when a bank may use a consumer report
• The appropriate information to a consumer when adverse action is taken
• The requirements for using consumer information for solicitations
• To ensure Credit Reporting Agencies are providing the appropriate information and complying with their requirements under the FCRA

Course Outline

This online FCRA: Consumer Reports course is made up of the following sections:

1. Consumer Reports
2. Employment Purposes
3. Investigative Reports
4. Address Discrepancies
5. Adverse Action
6. Prescreened Lists
7. Responsibilities of CRAs

Course Audience

This FCRA: Consumer Reports online training course was designed for bank employees.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.