The Fair Credit Reporting Act,which regulates the use of credit reports,requires the deletion of obsolete information and gives consumers access to their files.

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The Fair Credit Reporting Act (FCRA) is designed to ensure the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. It requires the deletion of obsolete information—generally, negative information that is more than seven years old (ten years for bankruptcies)—and grants consumers the right to access their credit files and correct any errors.

The Fair Credit Reporting Act,which Regulates the Use of Credit