Which of the following statements pertaining to the Fair Credit Reporting Act is NOT correct?
A) The Fair Credit Reporting Act is a state law that helps to ensure accurate reporting of information about consumers.
B) The Fair Credit Reporting Act does not apply to insurance companies who use their own staffs to investigate an applicant for insurance.
C) A life insurance company obtains a consumer report on Burl, an applicant, without advising him of its intended action. The company has violated the Fair Credit Reporting Act.
D) Peg's application for life insurance is rejected because of an unfavorable consumer report. She has a right to know what information the reporting agency has and can insist that any errors in the data be corrected."
Ans: A) The Fair Credit Reporting Act is a state law that helps to ensure accurate reporting of information about consumers.
You might also like to view...
The supply chain is a network of manufacturers and service providers that work together to create products or services needed by end users
Indicate whether the statement is true or false.
How much will you need in 30 years to have the same purchasing power that $150 has today, if inflation averages 4% per year?
A) $486.51 B) $180.00 C) $120.00 D) $169.08 E) $330