Legal Definitions - consumer report

A consumer report is a type of background check that is conducted by consumer reporting agencies. This report is used by employers and creditors to determine whether to hire or loan money to an individual. The report can contain a variety of information, such as:

• Credit history
• Past bankruptcy
• Judicial records
• Employment records
• Online activity

For example, if you apply for a job, the employer may request a consumer report to see if you have a history of being responsible with money or if you have a criminal record. Similarly, if you apply for a loan, the creditor may request a consumer report to see if you have a history of paying your bills on time.

It's important to note that consumer reports can only be accessed with your approval and are highly regulated by the Fair Credit Reporting Act (FCRA). Some states may also have additional restrictions on what information can be collected by employers, such as credit history.