LAWDOG CREDIT REPORTING DICTIONARY

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The definition of the term "Consumer Report" is fundamental to the Federal Fair Credit Reporting Act as amended by the Consumer Fair Credit Reporting Reform Act of 1996, and care should be taken to fully understand its meaning. Please note the following observations from this definition:

(1) A consumer report may be in written, verbal, electronic, or other form, so long as the information meets the other criteria.

(2) A consumer report must have a "bearing on a consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living".

(3) The information must be "used or expected to be used or collected in whole or in part" to serve as a factor to determine the eligibility of a consumer for:

A. Credit or insurance to be used primarily for personal, family or household purposes.

B. Employment purposes (see Employment purposes).

C. Other purposes authorized by Section 604 (see permissible purposes, which includes extension of credit, review of account, collection of account, insurance underwriting, court order, and other purposes).

(4) There are specific exceptions to the definition of "Consumer Report" included in the definition. These should be reviewed.

A copy of The Fair Credit Reporting Act, As Amended, and a copy of the FTC Official Staff Commentary to the Fair Credit Reporting Act are included under "Fair Credit Reporting Resources", available from LAWDOG Credit Reporting Center, or here. Use browser return button to return. Read Notices, Caution and Disclaimer. For more information, see "Consumer Reports" linked here. Link does not return to this page.

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