Requirements relating to information contained in consumer reports 15 USC s 1681c

The Fair Credit Reporting Act (FCRA), specifically under 15 USC § 1681c, sets strict guidelines about the types of information that can be included in your consumer reports (these are reports about your credit history and other personal details). Let's break down what this means for you:

• Time Limits on Old Information: Negative information can't haunt your consumer report forever. Most negative details like late payments or bankruptcies have a shelf life. Typically, after 7 years, this information must be removed from your report. For bankruptcies, the period can be longer, up to 10 years.

• Private Matters Stay Private: Certain personal details don't belong in a consumer report. Information like medical history is considered too private to be included.

• Criminal History Restrictions: If you have a criminal record, in most cases, any convictions that are older than 7 years won’t be included in your report. However, if you're applying for a job that pays a certain high wage (as stated by law), the report might include older information.

• The Case of Public Records: When it comes to public record information which can be negative, like tax liens or outstanding judgments, there are limits too. Such information is often removed after 7 years, ensuring that mistakes don't follow you indefinitely.

• Name Changes and Mixed Files: Sometimes, consumer reports have errors, like mixing your information with someone else's, especially if you have a common name or have changed your name. The FCRA requires that the credit reporting agencies must follow reasonable procedures to prevent these mix-ups and ensure accuracy.

Keep in mind, even though the FCRA sets these standards, it's still a good idea to check your own consumer report regularly. If you spot errors or old information that shouldn't be there, you have the right to dispute it and request a correction.