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Correct!
Answer: D. Under
section 605 of the FCRA, if an applicant/consumer is expected
to make under $75,000, a CRA cannot report arrests that
did not result in a conviction or any other adverse information
past seven years. CRAs can, however, report bankruptcies
going back 10 years. A CRA can report conviction records
under the FCRA going back as far as they can locate, but
CRAs should be aware some states have restrictions on what
a CRA can report that also apply to conviction records.
Assuming
an individual will make less than $75,000, under the FCRA,
a CRA is prohibited from reporting:
a)
Arrest record information going back further than seven
years;
b)
Any adverse item of information other than convictions going
back seven years except Bankruptcies can be reported for
10 years;
c) Any information going back further than seven years;
d)
Both A and B
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