Credit Laws

Business / Accounting / Credit Laws: Fair Credit Reporting Act (as amended 1997) Federal law that covers the reporting of debt repayment information. It establishes when a credit reporting agency may provide a report to someone: states that obsolete information must be taken off (7 or 10 years): gives consumers the right to know what is in their credit report: requires that both a credit bureau and information provider (e.g., department store) have an obligation to correct incorrect information: gives consumers the right to dispute inaccurate information and add a 100-word statement to their report to explain accurate negative information: and gives consumers the right to know what credit bureau provided a report when they are turned down for credit.

Other Words for Credit

Credit Noun Synonyms: belief, faith, trust, credence
Credit Verb Synonyms: ascribe, acknowledge, attribute, assign, impute
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Foreign Tax Credit

Business / Finance / Foreign Tax Credit: A special type of corporation created by the Tax Reform Act of 1984 that is designed to provide a tax incentive for exporting U.S.-produced goods. MORE

Full Faith And Credit

Business / Taxes / Full Faith And Credit: Federal and municipal governments can promise repayment of debt securities they issue because they can raise money through taxes, borrowing, and other sources of revenue. That power is described as fu MORE

Full Faith-And-Credit Obligations

Business / Finance / Full Faith-And-Credit Obligations: Describes exchange and government regulations providing for the release and free exchange of all information pertinent to a given security. MORE

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