As a consumer, you know that nearly all of your personal spending habits will impact your credit score in some way. However, you may not know that there is another kind of consumer report out there that can impact your life. An investigative consumer report can have a considerable impact on different areas of your life. Though nearly every adult has a credit report, many are unaware of these investigative reports, so ensuring you familiarize yourself with them is critical. The following blog explores what you should know about these matters and why working with a California consumer lawyer is in your best interest if you experience any issues with these reports.
What Is an Investigative Consumer Report?
Under the Fair Credit Reporting Act (FCRA), an investigative consumer report includes the character, reputation, and characteristics of a consumer. Typically, this information is obtained through interviews with friends, family, coworkers, or others who may know the consumer at the center of the report on a more personal level.
Often, the information included in these reports is used by potential employers or landlords to determine whether or not someone would be a good fit. However, they may also be used by banks, charity organizations, and insurance companies. Regardless, if one of these entities requests a report, the consumer at the center must give written permission for the information in this report to be shared with the requesting party.
It’s imperative to understand that these reports cannot contain information regarding someone’s credit information. Additionally, once the entity who has requested the report is finished using it, it must be destroyed.
Who Oversees the Information in These Reports?
You should note that even though these reports cannot include information regarding your credit, it is still subject to laws regarding these matters. For example, even though the report is not created by the same entities that oversee your credit reports, they are still subject to regulation. As such, the Federal Trade Commission is responsible for the FCRA, which oversees and regulates Investigative Consumer Reports in the United States. It’s also important to note that the Consumer Protection Bureau also provides additional protections, as its purpose is to ensure fair and just practices. Additionally, the CPB holds those who do not adhere to these regulations accountable.
Unfortunately, many are unaware of these reports, meaning they are unaware of their rights regarding these matters. As such, the most important thing you can do if you have reason to believe an investigative report was taken without your consent or the information also included your credit information is to connect with an experienced consumer defense attorney.
At Los Angeles Legal Solutions, we understand how complicated these issues can be. That’s why our firm will do everything possible to guide you through these complex matters. When you need help, don’t hesitate to contact our dedicated team today.
