Credit Bureau Regulations Added to FCRA

By E-Renter Tenant Screening
Posted on October 15, 2008 under FCRA Issues | Be the First to Comment

One of the basic requirements of the Fair Credit Report Act (FCRA) is that credit-reporting agencies and tenant-screening companies make an effort to know that those who purchase credit reports have a legitimate purpose to do so.

At the beginning of 2007, the Credit Bureaus put into place their own, more stringent, regulations to insure that anyone ordering a credit report has a legal right to do so. These new regulations are intended to help fight identity theft and credit fraud.

The tenant screening industry has a responsibility to enforce these new rules by qualifying customers. These new rules apply only to credit reports (other screening reports are still available).