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Credit Reporting

Your credit report affects your ability to get a loan as well as the interest rate you will be required to pay. Congress has passed credit reporting legislation to give consumers access to their credit information and protect them from unfair, fraudulent, or deceptive credit practices.

These laws make it possible for you to

  • request your credit report and correct any errors you find.
  • receive information about why a lender denied you credit or increased the cost of credit to you.
  • protect your identity.
  • place a fraud alert on your credit reports.
  • file credit-reporting complaints.

Fair and Accurate Credit Transactions

The Fair and Accurate Credit Transactions Act (FACTA) provides you with better access to your credit information. Under FACTA, consumers are entitled to one free credit report every 12 months from each of the three credit bureaus (Equifax, TransUnion, and Experian). Reviewing these reports allows you to correct any errors in your credit history and protect your credit identity. Learn more about identity theft on the Federal Trade Commission website and in the OCC's "Answers About Identity Theft."

To order your free credit reports,

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

Do not contact the three nationwide consumer reporting companies individually.

Fair Credit Reporting

The Fair Credit Reporting Act (FCRA) regulates the consumer credit reporting industry. In general, the FCRA requires that industry to report your consumer credit information in a fair, timely, and accurate manner. Banks and other lenders use this information to make lending decisions. If a lender denies credit or increases the cost of credit to you, it must give you the name and address of the consumer reporting agency from which it received your report. Under the FCRA, you have the right to review that report and correct any errors that may be in it. Read "Credit and Your Consumer Rights" on the Federal Trade Commission website and see the OCC's "Answers About Credit Reports."

Related News and Issuances

03/30/2023 NR 2023-30 Acting Comptroller Emphasizes Focus on Safe and Sound Banking System, Discusses Elevating Fairness in Banking
12/15/2022 OCC 2022-26 Fair Debt Collection Practices Act: Revised Interagency Examination Procedures and Rescissions
11/18/2019 NR 2019-132 OCC Proposes Rule to Clarify "Valid When Made" Doctrine