Read about Wanda’s complaint to the FDIC. What action did the regulator most likely take in this case?

The FDIC found out that a company misreported information to a credit scoring company about Wanda. Wanda contacted the company and asked them to fix the problem. The company refused to talk about it and referred her back to the credit company. The FDIC declares the company has violated the .
a. Fair Credit Reporting Act
b. Gramm-Leach-Bliley Act
c. Federal deposit Insurance act
d. Bankruptcy Abuse Prevention and Consumer Protection Act
e. Fair and Accurate Credit Transactions act
I think the answer is A but could it possibly be E

It's A. The Fair and Accurate Credit Transactions act is an amendment to the Fair Credit Reporting Act.

Read about Wanda’s complaint to the FDIC. What action did the regulator most likely take in this case?

The answer is A. The most likely action taken by the regulator, the FDIC, in this case is to declare that the company has violated the Fair Credit Reporting Act. This act protects consumers' rights regarding their credit information and ensures that credit reporting agencies and businesses that provide information to them handle consumers' information fairly and accurately. The situation described in the question involves misreporting information to a credit scoring company, which falls under the purview of the Fair Credit Reporting Act.

To determine the correct answer, let's analyze the information provided.

Wanda's complaint is related to a company misreporting information about her to a credit scoring company. She contacted the company, but they refused to address the issue and referred her back to the credit company. Given this scenario, we can narrow down the options.

Option A is the Fair Credit Reporting Act (FCRA), which is designed to promote the accuracy, fairness, and privacy of consumer information held by credit reporting agencies. It also allows individuals to dispute and correct inaccurate or incomplete information on their credit reports. Since Wanda is facing incorrect reporting from a company to a credit scoring agency, the FCRA seems like a relevant regulation in this case.

Option E is the Fair and Accurate Credit Transactions Act (FACTA), which amends the FCRA. It includes provisions related to identity theft, credit report accuracy, and consumer dispute resolution. While FACTA is closely associated with the FCRA, it may not specifically apply to the situation described in the scenario.

To make a final determination, we can cross-reference the details of the scenario with the provisions of the FCRA and FACTA. Based on the information provided, it is most likely that the regulator (FDIC) took action against the company under the Fair Credit Reporting Act (FCRA), option A.

Therefore, the correct answer is A - Fair Credit Reporting Act.