True or False: Consumers must provide consent before a CRA can furnish their report to a third party.

The statement is true because under the Fair Credit Reporting Act (FCRA), a consumer reporting agency (CRA) is prohibited from providing a consumer's credit report to third parties without the consumer's consent. This requirement is a fundamental consumer protection mechanism intended to safeguard consumer privacy.

When a consumer applies for credit, employment, or other services that may require a report, they must explicitly authorize the request for their credit information. This consent ensures that consumers are fully aware of who is accessing their credit information and for what purposes.

While there may be specific situations, such as certain types of credit transactions, where permission is implied rather than express, the general requirement stays that consumers need to consent to the sharing of their reports. Thus, whenever a third party seeks access to a consumer's report, obtaining that clear, informed consent is both a legal requirement and a best practice in fostering transparency and trust between consumers and credit reporting agencies.