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As a large fraction of consumer credit reports contain errorswww.federalreserve.gov/pubs/bulletin/2003/0203lead.pdf different studies report different fractions (from 0.2% to 70%), but most well-done studies find an around 20-30% signifcant negative error rate., rights under the FCRA are frequently invoked by consumers who review their own credit reports. There is a factual question concerning data that are not called Credit Report s but which may fall within this Act's regulations. While putative database companies like Lexis , Westlaw , Choicepoint do not create credit reports, they may gather the same types of information and as a result may subject some of their actions to FCRA. ''An entity that meets the definitional requirement for a "consumer reporting agency" (CRA) in Section 603(f) of the FCRA is covered by the law even if the only information it collects, maintains, and disseminates is obtained from "public record" sources.'' ''Section 603(f) defines a "consumer reporting agency" as any person "which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information ... for the purpose of furnishing consumer reports to third parties ...". In turn, Section 603(d) defines a "consumer report" as the communication of "any information" by a CRA that bears on a consumer's "credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living" that is "used or expected to be used or collected in whole or in part" for the purpose of serving as a factor in establishing eligibility for credit or insurance to be used primarily for personal, family, or household purposes, employment purposes, or any other purpose authorized under Section 604. '' ''If the commercial service you describe regularly provides information for the purposes set forth in the definition of consumer report in Section 603(d), the agency is a consumer reporting agency and the information it collects from public record sources and maintains in its computerized files is subject to the FCRA.'' FTC advisory opinion In 2003 FCRA was amended by Fair And Accurate Credit Transactions Act to guard against Identity Theft . SEE ALSO
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