Question

Carlos approaches a bank for home loan. He is denied the loan when the verification of his credit history through his credit report reveals he has defaulted in the payment of a car loan. Carlos realizes that the information provided by the credit bureau is erroneous. Which law allows for action to be taken in case of errors in his credit report? A. Fair Debt Collection Practices Act B. Fair Credit Billing Act C. Fair Credit Reporting Act D. Credit Card Accountability, Responsibility and Disclosure Act

Answer 1

C. Fair Credit Reporting Act

Step-by-step explanation:

Answer 2

C. Fair Credit Reporting Act

Step-by-step explanation:

Fair Credit Reporting Act was brought into action to lay governance on the credit bureaus regarding their consumers' credit information. The act presents the rules and regulations to be followed to obtain and present the credit details of the consumers. Also, it looks over the manner in which the details are shared with the consumers and others for various other purposes.

According to the given excerpt, the Fair Credit Reporting Act allows Carlos to take an action in case of any error found in his credit report.