Which entity or entities can file an FCRA lawsuit or bring an enforcement action against CRAs?

The correct answer encompasses both the Federal Trade Commission (FTC) and individual consumers because both have the authority to take action under the Fair Credit Reporting Act (FCRA).

The FTC plays a significant role in enforcing the provisions of the FCRA, particularly because it oversees compliance with consumer protection laws, which include regulations related to consumer reporting agencies (CRAs). The Commission has the power to investigate and bring enforcement actions against CRAs that violate the FCRA and can impose penalties for non-compliance.

Simultaneously, individual consumers also possess the right to file lawsuits against CRAs for violations of their rights under the FCRA. If consumers believe their credit report has been mishandled or inaccuracies are present that affect their financial standing, they can seek judicial remedies to address these grievances.

This dual enforcement structure enhances consumer protection by allowing both a regulatory agency and individuals to hold CRAs accountable for their actions, ensuring a more robust safeguarding of consumers' rights regarding their credit information.