Which entity is responsible for enforcing the Fair Credit Reporting Act?

The Federal Trade Commission (FTC) is responsible for enforcing the Fair Credit Reporting Act (FCRA). This law was designed to promote accuracy and ensure privacy in consumer credit reporting. The FTC oversees compliance by businesses and has the authority to take action against companies that violate the FCRA, including investigations, enforcing penalties, and providing consumer education.

While the Consumer Financial Protection Bureau (CFPB) also plays a role in overseeing certain aspects of consumer financial laws, including specific provisions of the FCRA that pertain to consumer reporting agencies and credit reporting practices, the FTC is the primary enforcer of this particular Act. The Department of Justice (DOJ) handles criminal prosecutions and civil litigation related to certain violations of federal laws, but it does not have direct enforcement authority over the FCRA. The Internal Revenue Service (IRS) focuses primarily on tax-related matters and compliance with tax laws, and it does not enforce consumer protection laws such as the FCRA.