How is consumer report defined for FACT Act purposes?

• A. A report containing only public records.
• B. A report compiled by a consumer reporting agency about a consumer's creditworthiness, history, or other characteristics used to evaluate credit, employment, or other decisions.
• C. A list of marketing preferences.
• D. A report only used for marketing purposes.

Answer: (A)

A consumer report under FACT Act terms is a file created by a consumer reporting agency that contains information about a consumer’s creditworthiness, credit history, or other characteristics used to evaluate the consumer for credit, employment, or other decisions. It may include public-record information, but it is not limited to public records alone. This broad purpose—assessing eligibility for credit, employment, or other decisions—distinguishes it from marketing lists or records that are used solely for marketing purposes.