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What is the name of the law that requires insurers to disclose information gathering practices and where the information was̀ obtained?
A. State Guaranty Association
B. O Fair Credit Reporting Act
C. O Fair Labor Standards Board
D. O National Association of Insurance Commissioners

Ask by Vaughn Davison. in the United States
Mar 26,2025

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The correct answer is B. Fair Credit Reporting Act.

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The correct answer is B. Fair Credit Reporting Act. This law mandates that insurers disclose their information gathering practices and inform individuals of where their information was obtained. It’s all about transparency and ensuring that consumers are aware of how their personal data is being used.
Additionally, the Fair Credit Reporting Act also empowers consumers by giving them the right to access their credit reports and dispute inaccuracies. It’s like having a watchdog that ensures your financial narrative is correctly portrayed, fostering a sense of security and control over your personal information!

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