Property Manager – Canoga Park
Tips on Fair Credit Reporting Act (FCRA) Compliance
Before entering into a service contract with a client, a business has permissible purpose to obtain a consumer report on the customer for a potential new account.
- A bank has permissible purpose and may obtain consumer reports on customers who have defaulted.
- An adverse action letter needs to include more than the name and address of the Consumer Reporting Agency.
- A company may not check an individual’s credit for recruiting purposes without permission of the prospect.
- If a store denies credit to a customer, and is then told of a dispute concerning the content of the credit report, the store is not obligated to reconsider it’s decision concerning the original credit application.
- Accuracy is on of the main objectives of the Fair Credi Reporting Act (FCRA).
- Consumer reports can be lists of names.
- Consumer reports can only be from a Consumer Reporting Agency.
- Insurance companies can not obtain consumer reports to investigate claims.
- Violating FCRA guidelines can bring about criminal penalties.
- A a supplier is not allowed to obtain a consumer report on a contractor without written permission.
- A consumer / potential employee must give written permission to authorize an employment report.
- A landlord is required to keep a consumer report confidential and may not share it with anyone else.
- A business is not obligated to take into account any dispute statements when considering a loan application.
- A business may not obtain consumer reports on its employees without written permission.
From:www.thelpa.com
Carnahan Property Management Services Woodland Hills,West Hills,Bell Canyon, Hidden Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, WestLake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 to check if we can service your area. 60+ years of service.
