Under the Fair Credit Reporting Act, anyone obtaining or reading a consumer’s credit report for reasons other than these listed may face heavy fines or imprisonment:

• Written permission for employment or other authorized reason
• Application for government license
• Application for business license
• Credit or insurance transaction
• Court subpoena from a federal grand jury
• Requirement for setting child support

The Fair Credit Reporting Act also requires disclosure to consumers of the name and address of any consumer reporting agency which supplied reports used to deny credit, insurance, or employment. Within 60 days of denied credit, employment, insurance, or housing a consumer may request a free copy of their report. Reports are issued free to consumers on welfare, or if there is a reason to suspect fraud. Also the act limits the amount of time certain information can remain in a credit report.

To read The Fair Credit Reporting Act in its entirety, visit
http://www.fdic.gov/regulations/laws/rules/6500-1100.html#6500titleviccr