Consumer Reporting Agency Furnishing Consumer Reports

BCD

Sure, I'd be happy to explain in detail!

The term "CRCM" typically refers to the Certified Regulatory Compliance Manager certification, which is a professional designation for individuals who work in the field of regulatory compliance. However, based on the answers provided, it seems like the question is actually related to the Fair Credit Reporting Act (FCRA), which is a federal law that regulates the collection, dissemination, and use of consumer credit information.

Under the FCRA, a consumer reporting agency (CRA) is a company that collects and maintains information about consumers' credit histories and other financial transactions. CRAs are required to follow certain rules when furnishing consumer reports (i.e., reports containing information about an individual's creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living).

Now, let's look at each answer in turn:

A. If not authorized in writing by the consumer

This answer is incorrect. Under the FCRA, a consumer reporting agency is generally prohibited from furnishing a consumer report unless it has a permissible purpose for doing so (such as in connection with a credit or insurance transaction, or for employment purposes, as we'll discuss below). However, in most cases, the CRA does not need to obtain the consumer's written authorization before furnishing the report.

B. In response to a court order having jurisdiction or a subpoena issued by a federal grand jury or review or collection of an account of the consumer

This answer is partially correct. The FCRA does allow a consumer reporting agency to furnish a consumer report in response to a court order or subpoena, as long as the order or subpoena has been issued by a court with jurisdiction over the matter. Additionally, CRAs are permitted to furnish consumer reports to debt collectors and other entities for the purpose of reviewing or collecting a debt owed by the consumer.

C. In connection with a credit or insurance transaction

This answer is correct. One of the permissible purposes for which a consumer reporting agency may furnish a consumer report is in connection with a credit or insurance transaction. For example, a lender might request a consumer report before deciding whether to approve a consumer's loan application.

D. For employment purposes Before procuring a consumer report, an employer Must disclose to the individual in writing that a consumer report may be obtained Must obtain written authorization from the individual before procuring the report

This answer is also correct. One of the other permissible purposes for which a consumer reporting agency may furnish a consumer report is for employment purposes. However, before an employer can obtain a consumer report for this purpose, they must first provide the consumer with a written disclosure that a report may be obtained, and obtain written authorization from the consumer. This is known as the "pre-employment screening" requirement.

In summary, the correct answers to the question are B, C, and D.