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What Is Permissible Purpose and Who Has It? The Fair Credit Reporting Act (FCRA) includes a section known as permissible purpose. It establishes the need for written consent or documentation from the consumer before a financial institution can pull the individual's credit report.

Section 623(a)(1)(B). If a consumer notifies a furnisher that the consumer disputes the completeness or accuracy of any information reported by the furnisher, the furnisher may not subsequently report that information to a CRA without providing notice of the dispute. Section 623(a)(3).

Turning to subsection 1681s-2(b), that section specifies what happens after a credit reporting agency receives notice of a dispute from the consumer pursuant to section 1681i(a)(2), of his or her dispute with regard to the completeness or accuracy of information provided by a person ?to the credit reporting agency.?

It is the purpose of this subchapter to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy ...

Documentation that identifies items of adverse information that should not be furnished by a consumer reporting agency because the items resulted from a severe form of trafficking in persons or sex trafficking of which the consumer is a victim.

Section 623 of the FCRA and Regulation V generally provide that a furnisher must not furnish inaccurate consumer information to a CRA, and that furnishers must investigate a consumer's dispute that the furnished information is inaccurate or incomplete.