The Fair Credit Reporting Act (FCRA) has been protecting the
accuracy and integrity of consumers since its inception in 1970.
The FCRA is often considered to be the original privacy statute,
and its coverage is understandably limited to reports about
individual consumers and not business credit reports. In recent
years, the FTC and CFPB have been focusing on the business credit
reporting industry.
This article by Kate White focuses on regulator's concerns
that inaccurate reports can result in small businesses' being
unable to obtain loans at favorable rates, or being denied loans or
lines of credit altogether.
You can read the full article here.
Originally published in the Credit Research Foundation's publication, Perspective by CRF (Q2 2023)
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
