Under the FCRA, what type of information must consumer reporting agencies ensure is accurate and relevant?

The Fair Credit Reporting Act (FCRA) establishes standards for accuracy and relevance in consumer reporting, primarily focusing on information that significantly impacts a consumer's creditworthiness. This includes details such as credit accounts, payment histories, outstanding debts, and any other data that lenders would consider when assessing the risk of lending to a consumer.

By requiring consumer reporting agencies to ensure that information related to creditworthiness is accurate and relevant, the FCRA aims to protect consumers from potential harm that could arise from incorrect or misleading information affecting their financial opportunities or access to credit.

This focus on creditworthiness is critical because inaccurate reporting can lead to unfair denials of credit, higher interest rates, or other negative financial consequences for consumers. Therefore, consumer reporting agencies have a legal obligation to maintain diligence in verifying this information to uphold the integrity of the credit reporting system.