FTC to House Panel: FCRA Enforcement Remains a Priority

The Federal Trade Commission (FTC) told a House subcommittee that strong enforcement of the Fair Credit Reporting Act (FCRA) remains a top priority for the FTC, and that the agency is committed to educating consumers and businesses about consumer reports, credit scores, and their rights and obligations under the FCRA. The FTC's testimony before the House Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit, delivered by Robert Schoshinski, Assistant Director of the Division of Privacy and Identity Protection, states that data compiled and maintained by consumer reporting agencies, or CRAs, is used to make critical decisions about the availability and cost of various products and services, including credit, insurance, employment, and housing. In addition to Schoshinski, additonal testimony was provided by Rodney Anderson of Supreme Lending; Stuart K. Pratt, president and CEO of the Consumer Data Industry Association (CDIA); Mary Spector, Associate Professor of Law, Southern Methodist University Dedman School of Law; Dr. Michael A. Turner, president and CEO, Policy and Economic Research Council; and Chi Chi Wu, Staff Attorney, National Consumer Law Center (NCLC).