Section 607 (b) of the FCRA
requires CRAs to «follow reasonable procedures to assure maximum possible accuracy».
Because of this, it is reasonable for the FTC to assume that employers may be using these mobile apps for employment screening purposes which would then
require the CRAs to meet several obligations:
Produce guidelines on matching criteria, especially for consumers with common names, to prohibit CRAs from relying on name - only matches and
requiring CRAs to use all available data to determine a match before providing a criminal background check report.
Not exact matches
Legally, lenders are not
required to report anything to the
CRAs.
Although they are not
required to do so, many
CRAs will add verifiable accounts for a fee.
The new Fair and Accurate Credit Transactions Act of 2003 (FACTA)
requires the three national credit reporting agencies (
CRAs) to provide a free copy of your credit report once per year, upon request.
Enforced by the Federal Trade Commission, this federal law
requires credit reporting agencies (
CRAs) to act fairly and equitably when collecting, disseminating, and utilizing consumer credit information.
On the front end,
CRAs are
required to maintain reasonable accuracy of consumer report information.
In lumping
CRAs together with data brokers, Rosen writes that the NCLC report fails to note that a group of approximately 170 leading
CRAs formed a group called «Concerned
CRAs» to publically reject the use of databases without taking the steps necessary to a ensure accuracy and completeness as
required under the FCRA.
Require registration of consumer reporting agencies since currently there are no licensing requirements to become a CRA, no system for registration, and the total number of
CRAs currently operating is unknown.
A new law in Rhode Island taking effect in October of 2016 — S 2864 as Amended —
requires Transportation Network Companies (TNCs) such as Uber and Lyft who use third party Consumer Reporting Agencies (
CRAs) for the background screening of potential drivers to only use
CRAs accredited by the National Association of Professional Background Screeners (NAPBS ®).