What act protects you when applying to receive credit?

The Fair Credit Reporting Act (FCRA) protects consumers when applying for credit. It regulates how credit reporting agencies collect and share information about consumers, ensuring the accuracy and privacy of credit reports. The act also grants consumers the right to dispute inaccuracies and requires lenders to inform applicants if credit reports influenced their decisions. Overall, the FCRA promotes transparency and fairness in the credit application process.