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Penalties
LAWDOG is intended to assist in the understanding of basic concepts. See Disclaimer. Always obtain legal advice from legal professionals.
A failure to observe the requirements of the Federal Fair Credit Reporting Act may result in a State or Federal enforcement action, a civil suit for damages, or the filing of criminal charges (false pretenses). All users, furnishers, consumer agencies and their officers and employees should be familiar with these sections.
Compliance with the Federal Fair Credit Reporting Act is enforced by the Federal Trade Commission (FTC) unless such authority is specifically designated to other agencies. In the event of a "knowing violation", which constitutes a "pattern or practice" of violations, the FTC may file an action for civil penalties in Federal District Court. In such an action, the violator shall be liable for civil penalties not exceeding $2,500.00 per violation. See "Liabilty, Damages, & Penalties" linked here. Link does not return to this page.
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, for illustration purposes only, under "Fair Credit Reporting Resources", from LAWDOG Credit Reporting Center, or here. Use browser "back" button to return. Read Notices, Caution and Disclaimer.
