Which agency is responsible for enforcing the Fair Credit Reporting Act (FCRA)?

The agency responsible for enforcing the Fair Credit Reporting Act (FCRA) is the Federal Trade Commission (FTC). The FCRA is designed to promote accuracy, fairness, and the privacy of consumer information held by credit reporting agencies. The FTC's role involves not only enforcing the provisions of the FCRA but also ensuring that consumer rights are protected in relation to credit reporting activities.

The FTC has the authority to investigate violations of the FCRA and can bring enforcement actions against companies that fail to comply with its requirements. This includes ensuring that consumers have access to their credit reports and that any inaccuracies are corrected.

While the Consumer Financial Protection Bureau (CFPB) also plays a role in overseeing compliance with various consumer financial laws, including the FCRA, the FTC retains enforcement authority over many aspects of the FCRA. Meanwhile, the Federal Communications Commission and the Securities and Exchange Commission are focused on telecommunications and securities regulations, respectively, and do not have authority over credit reporting practices. This distinction underscores the FTC's central role in enforcing the FCRA.