Fair Credit Reporting Act (FCRA) Practice Test 2025 - Free FCRA Practice Questions and Study Guide

Question: 1 / 400

True or False: Resellers furnish information in the form of credit reports to third parties.

True

The statement is true because resellers are entities that purchase consumer credit information from one or more consumer reporting agencies and then aggregate and sell that information in the form of credit reports to third parties. Under the Fair Credit Reporting Act (FCRA), resellers are classified as consumer reporting agencies, and their ability to furnish credit reports to third parties is a fundamental part of their operations. This process often involves providing credit reports to businesses, lenders, or other organizations that require credit information for various purposes, such as lending decisions, employment screening, or insurance underwriting. The reselling of credit data is heavily regulated to ensure compliance with consumer protection laws, including the FCRA.

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False

Only if authorized by the consumer

Only to financial institutions

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