Physical Site Inspections
Businesses and organizations who utilize personal and business credit reporting to obtain information on the consumer are held responsible by the federal government with several statutes.
To prevent credit fraud and theft, the statutes cover several aspects of handling consumer reports such as:
- Obtaining a consumer report
- Storing consumer reports
- Destroying consumer reports
Permissible purpose refers to the various legitimate reasons to obtain a consumer report on a consumer.
In Section 604 of the Fair Credit Reporting Act (FCRA). [15 U.S.C. § 1681b], permissible purposes is active for:
- Property Rental
- Financing – Mortgage
Even if permissible purpose is evident there is a strict policy that must be followed at all times.
FCRA, the Gramm-Leach Bliley Act (GLBA), and the Dodd Frank Act (DFA) states:
A company or individual must be properly vetted, which may include a visit to the office – a Physical Site Inspection observing the permissible purpose claimed in the application.
Let Robbins Consulting & Management assist you in remaining compliant.
We provide Physical Site Inspections nationwide.
See all of our services for more information on our different inspections.
Contact Us today to discuss your Physical Site Inspection needs.
Customized Physical Site Inspection forms are available.