What law protects consumers against the circulation of inaccurate or obsolete information?

The Fair Credit Reporting Act (FCRA) is fundamentally designed to protect consumers from the potential harms associated with inaccurate or outdated information in their credit reports. It establishes guidelines for how consumer reporting agencies must handle the collection, maintenance, and sharing of consumer information. This act ensures that consumers have the right to know what information is being reported about them, as well as the right to dispute any incorrect or obsolete data.

Under the FCRA, individuals are empowered to request their credit reports and challenge inaccuracies. If a consumer identifies errors, reporting agencies are obligated to investigate and correct any discrepancies. This law is crucial for maintaining the integrity of information that can affect a person's creditworthiness and access to credit, insurance, and employment opportunities.

The other options focus on different aspects of consumer protection but do not specifically address the issue of inaccurate or obsolete information in the same way the FCRA does. The Privacy Act, for instance, deals primarily with the handling of personal data by government entities, while the Insurance Information and Privacy Protection Act pertains specifically to insurance information and consumer privacy. The Consumer Protection Act generally aims to prevent unfair, deceptive, or fraudulent practices but does not specifically focus on credit reporting or the accuracy of consumer records.