What is the primary goal of the Fair Credit Reporting Act?

• A. Inaccurate or obsolete personal and financial information
• B. Only public records
• C. Any information used by lenders
• D. Information unrelated to creditworthiness

Answer: (A)

The main idea here is that the Fair Credit Reporting Act aims to keep consumer credit information accurate, current, and handled with privacy in mind, so decisions aren’t based on wrong data. The choice highlighting inaccurate or obsolete personal and financial information best fits because it points to the problem the FCRA is designed to address—ensuring the records you rely on are correct and up to date, and that you can correct errors. The other options misstate the scope: public records aren’t the sole focus, the Act doesn’t collect every bit of information lenders might use, and information unrelated to creditworthiness shouldn’t drive credit decisions under the FCRA.