Summary of Law and Regulation The Fair Credit Reporting Act regulates the consumer credit reporting and related industries to insure that consumer information is reported in an accurate, timely, and complete manner to give individuals information when consumer reports are used to evaluate credit applications and to protect the confidentiality of information. The Fair and Accurate Credit Transaction Act (The FACT Act) amends the FCRA, establishing numerous requirements that provide protection for the victims of identity theft, provide more information to consumers about credit reports and credit scoring, limits sharing of information with affiliates, and protects consumer medical and other information Policy It is policy of BANK NAME to: *Obtain a credit report on a consumer for legitimate business need only primarily in determining the consumer eligibility for: ● Credit or insurance used primarily...