What is one of the primary purposes of the Fair Credit Reporting Act (FCRA)?

One of the primary purposes of the Fair Credit Reporting Act (FCRA) is to enhance consumer privacy. The FCRA seeks to ensure that consumer reporting agencies maintain the accuracy, fairness, and confidentiality of information in consumer reports. By implementing requirements around how personal data is collected, shared, and used, the FCRA aims to protect consumers from potential privacy violations and discrimination that can arise from the misuse of credit information. This includes giving consumers the right to access their own credit reports, dispute inaccuracies, and understand their rights regarding their personal financial information.

The other options do not align with the core objectives of the FCRA. While promoting credit card usage, establishing standards for credit counseling, and regulating interest rates may be relevant to financial consumer protection, they do not specifically address the privacy and accuracy of consumer information, which is central to the FCRA's mission.