The Fair Credit Reporting Act, or FCRA, regulates how credit reporting agencies and others handle information about consumers.
FCRA impacts those who provide information about consumers, such as Equifax. It also impacts those who receive information about consumers like you, a “verifier,” or a user of Equifax Verification Services.
Here are two of the most important obligations:
We must confirm your identity. Before you use Equifax Verification Services, your agency must go through a credentialing process to establish that you have the right to receive information. Each time you use Equifax Verification Services, you must go through a secure log in process that may require you to answer security questions to prove your identity.
You must declare your Permissible Purpose. All users of the system must declare their reason for receiving the information. In FCRA terms, this reason is called a Permissible Purpose.
Please remember, these are only two FCRA requirements out of many. You should carefully review the Terms and Conditions of the service for complete details about your obligations when using Equifax Verification Services.
You can learn more about FCRA at the Federal Trade Commissionís Web site .