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Consumer Credit Reports for Residential Rentals
I've always thought (and still think) that requests for consumer credit reports for residential rentals is an abuse of the Fair Credit Reporting Act (FCRA).
Why do I hold an opinion that seems to be contrary to common practice?
First, I'm no stranger to holding opinions that contradict popular positions. So, this one shouldn't really surprise anyone who actually knows me. But, unlike many, I don't hold opinions based on "feelings." I form opinions based upon facts as I understand them.
And, my opinion that requesting consumer credit reports for residential rentals is, 1) a violation of the FCRA, and 2) unnecessary. Here are the facts in support of my opinion.
A Violation of the Fair Credit Reporting Act?
What I believe is most important of my reasons, is that requesting credit reports for residential rentals is a violation of the Fair Credit Reporting Act because no credit is being extended.
Yes. I understand there are those who argue that a lease is a contract, and for THAT reason alone, a landlord is entitled to obtain a consumer credit report from a tenant applicant.
However, if you actually READ the Fair Credit Reporting Act, you'll find that the entire law is intended to restrict the use of a consumer ... more

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