source:
  type: statute
  id: fcra-15usc-1681
  authority: 15 U.S.C. §1681 — Congressional findings and statement of purpose
  description: 15 U.S.C. §1681 — Congressional findings and statement of purpose.
  coverage_tier: context
obligations:
- id: fcra-15usc-1681-full
  canonical_id: fcra-15usc-1681-full
  section: 15 U.S.C. §1681 — Congressional findings and statement of purpose
  type: reference
  tags:
  - regulator-direct
  - federal-statute
  - corpus-expansion
  - tier-context
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681 — Congressional findings and statement of purpose
    source_class: usc-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681
    snapshot_id: 6ae01d0fca1fb32d
    fetched_at: '2026-05-24T19:33:25Z'
    content_hash: sha256:40df5b7df4cb1c4885c2c3e4fdf9d707fecda4fb65ce389bb500727e16effb39
    paragraph_quote: '(a) Accuracy and fairness of credit reporting The Congress makes
      the following findings: (1) The banking system is dependent upon fair and accurate
      credit reporting. Inaccurate credit reports directly impair the efficiency of
      the banking system, and unfair credit reporting methods undermine the public
      confidence which is essential to the continued functioning of the banking system.
      (2) An elaborate mechanism has been developed for investigating and evaluating
      the credit worthiness, credit standing, credit capacity, character, and general
      reputation of consumers . (3) Consumer reporting agencies have assumed a vital
      role in assembling and evaluating consumer credit and other information on consumers
      . (4) There is a need to insure that consumer reporting agencies exercise their
      grave responsibilities with fairness, impartiality, and a respect for the consumer
      ’s right to privacy. (b) Reasonable procedures It is the purpose of this subchapter
      to require that consumer reporting agencies adopt reasonable procedures for
      meeting the needs of commerce for consumer credit, personnel, insurance, and
      other information in a manner which is fair and equitable to the consumer ,
      with regard to the confidentiality, accuracy, relevancy, and proper utilization
      of such information in accordance with the requirements of this subchapter.
      ( Pub. L. 90–321, title VI, § 602 , as added Pub. L. 91–508, title VI, § 601
      , Oct. 26, 1970 , 84 Stat. 1128 .)'
  judgment: false
