What is a ‘consumer report’?

Launching of HMAS WARREGO II at Cockatoo Island Dockyard — This photo is part of the Australian National Maritime Museum’s Samuel J. Hood Studio collection. Sam Hood (1872–1953) was a Sydney photographer with a passion for ships. His 60-year career spanned the romantic age of sail and two world wars. The photos in the collection were taken mainly in Sydney and Newcastle during the first half of the 20th century.

(1) Definition

Under the Fair Credit Reporting Act (‘FCRA’) a ‘consumer report’ (CR) is any written, oral, or other communication of any information bearing on a consumer’s creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor in establishing the consumer’s eligibility for:

(i) credit or insurance to be used primarily for personal, family, or household purposes;

(ii) employment purposes; or

(iii) any other FCRA permissible purpose (Section 1681b )

15 U.S.C. § 1681a(d)(1)

Investigative consumer report: A CR that pertains to the consumer’s character, general reputation, personal characteristics, or mode of living obtained through interviews with friends, family, neighbors or associates is an ‘investigative consumer report’. See, 15 U.S.C. § 1681a (e)

• Because information must be obtained during the interview, an investigative report DOES NOT include information obtained directly from a creditor or from a CRA (that obtained it from the creditor). (See, FTC ’40 Years of Experience with the Fair Credit Reporting Act: An FTC Staff Report with Summary of…