Fcra consumer reports - Study guides, Class notes & Summaries

Which law regulates the activities of consumer reporting agencies and users of consumer credit reports? Answer FCRA Which agency manages the National Do Not Call Registry? Answer Federal Trade Commission Which act led to the Nationwide Mortgage Licensing System and Registry for the residential mortgage industry? Answer The SAFE Act Under ECOA, providing different terms of financing for a potential borrower who has poor credit scores due to a recent bankruptcy is considered? Answer Accep...

FCRA. Consumer Reports

USAA Auto Insurance Terms Exam Questions and Answers Terrorism Risk Insurance Act (TRIA) - ️️ In 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and when did it happen - ️️ In 2005 legislation was modified and coverage was extended by the Terrorism Risk Insurance Extension Act FCRA- when, what, and what it stands for - ️️ In 1970 the Fair ...

Which law regulates the activities of consumer reporting agencies and users of consumer credit reports? - FCRA Which agency manages the National Do Not Call Registry? - Federal Trade Commission Which act led to the Nationwide Mortgage Licensing System and Registry for the residential mortgage industry? - The SAFE Act Under ECOA, providing different terms of financing for a potential borrower who has poor credit scores due to a recent bankruptcy is considered? - Acceptable Which law s...

The Fair Credit Reporting Act, Questions and answers, Graded A+ What first step must any information user take when requesting a consumer report from a consumer reporting agency? It must certify that the reason for wanting the report is a permissible reason If a person harmed files and wins a lawsuit, civil penalties may be the amount of the _______ damages, which cannot be less than $100 nor more than _________. Actual; $1,000 Brainpower Read More Previous Play Next Rewind 10 se...

It is important to make them feel __________ and __________ - Correct answercomfortable and welcomed __________ prompt someone to explore and analyze their emotions and feelings - Correct answer-Open-ended question __________ collect factual information - Correct answer-Closed-ended question Give __________ for responses time - Correct answer-time Questions should be asked in a ___________________________ way - Correct answer-non-judgmental It is important to ________________ your mentor...

B) recording method - Answer in which of the following must a beneficiary change request be filed in writing to the insurer and is made effective by the insurance company recording the change in it's records A) Designation option B) Recording method C) endorsement method D) succession of beneficiaries. As life expectancy increases, the chances if needing long term care also increase. - Answer which is the major reason why long term care insurance is becoming increasingly important? ...

1. bank 2. commercial bank 3. savings & loans 4. credit union 5. mortgage broker 6. mortgage banker - 1. bank - full service 2. commercial bank - originate largest amount of loans without using depositor's funds. 3. savings & loans - smaller local banks that use depositors funds to originate residential mortgage loans. AKA savings bank or thrift 4. credit union - takes deposits from members and pay dividends. Offer high interest rates to depositors and low loan rates to borrowers. 5....

Fair Credit Reporting Act: Exam Review Questions and answers, verified/ Reg V - -What regulation is associated with FCRA? the ensure the accuracy, fairness, and privacy of consumer's personal information listed on credit reports - -What is the purpose of FCRA? CFPB - -What agency oversees FCRA? Any transaction that involves 1. use of credit reports 2. consumer investigatory reports 3. employment background checks - -What are the three types of transactions covered by FCRA? Any tran...

Fair Credit Reporting Act (FCRA), Questions and answers, verified/ What is a consumer reporting agency? - -Any person or organization that 1. Regularly engages in the practice of gathering or evaluating credit or other information on consumers. 2. Provides this information to third parties. 3. Receives fees, dues, or other compensation for providing such reports, or 4. Provides reports and uses any means of interstate commerce for the purpose of preparing or furnishing consumer reports...