When it comes to your credit, it’s easy to feel overwhelmed—whether you’re checking your score daily or avoiding it altogether. But like it or not, our credit is an important asset—necessary for buying or leasing a car, renting an apartment, applying for some jobs, and—of course—buying a home or seeking other loans and funding.

Understanding your rights is crucial, especially when financial decisions hinge on your credit report. The US Federal Fair Credit Reporting Act (FCRA) ensures fairness in credit reporting. You may also have heard about Kentucky’s new Consumer Data Protection Act (KRS 367.3611–367.3629, effective 2026), which adds another layer of protection for personal data.

Here’s what you need to know.

Key Terms To Know:

  • Fair Credit Reporting Act (FCRA): Since 1970, the Fair Credit Reporting Act protects consumer data accuracy in credit reporting.
  • Consumer Financial Protection Bureau (CFPB): This federal agency enforces the FCRA and handles consumer complaints.
  • Federal Trade Commission (FTC): Among its other duties, the FTC monitors unfair debt and credit practices.
  • Credit Reporting Agencies (CRAs): These companies collect and sell consumer data on credit history and financial behavior. They are governed by the FTC and CFPB.

Your Fair Credit Reporting Rights and Protections

The FCRA governs how the Big 3 credit bureaus (Equifax, Experian, TransUnion) and other consumer reporting agencies handle your information. Key rights include:

  • You must be told if your credit report was used against youif you were denied a loan, refused a job, or if the data was used to prevent you from housing.
  • You must be given free access to your credit report. While you can pay for a credit report any time, each agency must provide your credit report to you for free once every 12 months or after an adverse action.
  • You must be able to easily dispute errors. The credit bureaus must investigate and correct any mistakes or errors in your credit report.
  • The credit bureaus must remove outdated or resolved negative info. The current rate for most items is 7 years, 10 for bankruptcies).
  • You must be allowed to opt out of prescreened credit offers.
  • You must be able to place a security freeze or fraud alert to prevent identity theft.
  • You must be able to sue violators if your rights are violated.

For full details, visit the CFPB’s guide.

When To Seek A Lawyer for a FCRA Violation

Credit bureaus and creditors have massive legal teams and the power on their side. If you are experiencing a violation of your rights under the FCRA, you need an advocate to level the playing field. Our team at the Law Office of Matthew L. Collins can demand corrections, file lawsuits, and negotiate settlements on your behalf.

How Kentucky’s New Consumer Data Privacy Law (2026) Affects You

While the FCRA covers credit reporting, Kentucky’s new 2026 law, the Consumer Data Protection Act, focuses on broader personal data privacy, including the right to request what personal information businesses collect (outside of the realm of credit reporting). This involves stricter rules for collecting biometrics, health info (PII), and precise location tracking and prevents companies from selling your personal info (with some exceptions).

Does This Replace the FCRA? No. The FCRA still controls credit reporting. Kentucky’s law covers non-credit data (e.g., social media activity, PII, etc). If a business or other organization uses this info to deny you, you may have new appeal rights as businesses handling personal data must now follow stricter consent and transparency rules.

We Can Help You Resolve Credit Reporting Errors in Kentucky

The Law Office of Matthew L. Collins, PLLC is standing by to protect your credit rights. We can provide personalized legal assistance through any FCRA violation claim you may face and help you achieve the settlement and results you need.

Our offices are located in Lawrenceburg, Kentucky, and we serve the surrounding Central Kentucky area, including Anderson County, Woodford County, Scott County, and Fayette County.