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#2250901 - 03/19/21 04:37 PM FCRA consumer definition
ComplianceKat Offline
Junior Member
Joined: Sep 2017
Posts: 32
Does the FCRA's definition of consumer and disclosures apply to non-resident alien (Canadian) consumers?

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#2250902 - 03/19/21 05:06 PM Re: FCRA consumer definition ComplianceKat
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,352
Galveston, TX
Consumer in the FCRA is defined as an individual.
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#2250903 - 03/19/21 05:11 PM Re: FCRA consumer definition ComplianceKat
MainStreeter Offline
Member
Joined: Jun 2014
Posts: 58
Probably depends- do they have a valid US tax ID number? if the FI has this individual as a consumer, you'd want to follow all the FCRA regulations- though whether or not this consumers data is compiled within the nationwide consumer reports isn't a guarantee- some may block it without a valid US tax ID number.
We have also ran into an account where we had an existing customer who moved out of country for a temporary job- upon an address update to the new address, CRAs rejected the updates to the tradeline due to the foreign address.

Ultimately the point of FCRA is to regulate consumer 'reporting' with much of the regulation stemming from the reporting- disputes, accuracy, etc. if they have a valid tax ID to be able to submit to the agencies and the data gets through- then they're absolutely a consumer for FCRA purposes. If you don't have that and they're a consumer for your FI and your data goes out and this account shows up on your statistical report as blocked every time, well they're still your customer and a consumer, but it's unlikely they'll dispute the data and have other FCRA issues if the CRAs don't accept it in the first place- but you're still treating them the same as your other consumers.

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#2250930 - 03/19/21 08:20 PM Re: FCRA consumer definition ComplianceKat
ComplianceKat Offline
Junior Member
Joined: Sep 2017
Posts: 32
Thank you for the follow up -
No US Tax ID Number provided, but Equifax was still able to provide report info with Canada identification number info somehow. We are also researching with our credit report vendor in the meantime, but curious about what others have experienced in the industry so far. Thanks again.

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