What are consumer rights under FCRA?

• A. Rights to access credit report, dispute inaccuracies, know when credit was used against them
• B. Rights to modify mortgage terms
• C. Rights to guaranteed income protections
• D. Rights to a free mortgage pre-approval

Answer: (A)

The main idea is that the Fair Credit Reporting Act gives consumers control over their credit information in a few key ways: you can obtain a copy of your credit report from the major reporting agencies, review it for accuracy, and dispute any errors so they’re investigated and corrected if needed. You also have the right to be told when information in your file is used to take a negative action against you—such as being denied credit or offered a less favorable term—so you understand why the decision was made and which bureau contributed the information. The other options describe protections that aren’t provided by FCRA, like changing mortgage terms, guaranteed income protections, or a guaranteed free mortgage pre-approval.