FCRA FCRA Identity Theft & Fraud Prevention

Question 1

Under the FCRA, a consumer who believes they are a victim of identity theft may place an initial fraud alert on their credit file, which lasts for how long?

Accepted Answer

1 year

Answer

90 days

Answer

7 years

Answer

Indefinitely until removed

Question 2

An identity theft victim who provides an identity theft report to a CRA can request that fraudulent information be blocked from their credit report. Within how many days must the CRA block the information?

Accepted Answer

4 business days

Answer

30 calendar days

Answer

7 business days

Answer

15 business days

Question 3

A consumer files an identity theft report with the FTC. Under FCRA §605B, which entity can rescind (unblock) fraudulent information if it determines the block was based on misrepresentation?

Accepted Answer

The CRA may rescind the block after notifying the consumer

Answer

Only a federal court can authorize rescission

Answer

The original creditor can unilaterally remove the block

Answer

The FTC must approve any rescission

Question 4

Which FCRA provision requires creditors to provide identity theft victims with copies of application or transaction records related to the fraudulent activity?

Accepted Answer

§609(e)

Answer

§605A(a)

Answer

§611(a)

Answer

§623(a)(6)

Question 5

Active duty military personnel can place an active duty alert on their credit file under the FCRA. How long does this alert last?

Accepted Answer

1 year

Answer

90 days

Answer

2 years

Answer

For the duration of deployment only

Question 6

A consumer who has been an identity theft victim may request an extended fraud alert lasting how long?

Accepted Answer

7 years

Answer

1 year

Answer

3 years

Answer

5 years