PSI Ohio Insurance Practice Exam

What law addresses obtaining consumer information reports under false pretenses?

1. The Fair Debt Collection Practices Act

2. The Fair Credit Reporting Act

3. The Privacy Act

4. The Consumer Protection Act

The correct answer is: The Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) specifically addresses the unauthorized access or use of consumer information reports, including obtaining these reports under false pretenses. This law was established to promote the accuracy, fairness, and privacy of consumer information in the hands of credit reporting agencies. Under the FCRA, it is illegal to obtain a consumer report without a permissible purpose, which includes fraudulent reasons. The act outlines the rights of consumers with respect to their credit information, how that information can be used, and the responsibilities of organizations that use consumer reports. It serves to protect individuals from identity theft and prevents misuse of their private data, which is particularly relevant in the context of obtaining information under deceptive means. The other regulations mentioned do not focus specifically on consumer information reports. The Fair Debt Collection Practices Act primarily regulates how debts can be collected, the Privacy Act deals with the handling of personal information by government agencies, and the Consumer Protection Act generally encompasses a broader range of protection against unfair business practices.