Credit Check
Who Can Do a Credit Check?
The Fair Credit Reporting Act (FCRA) is federal law that defines many aspects of credit reporting. This law is quite definite about who is permitted to obtain your credit report. Businesses must have a "legitimate business need" to do a credit check.
Who would this include? Actually, many groups of people: landlords, potential creditors, collection agencies, insurance companies, employers. Basically, anyone you do business with in any capacity may have the right to do a credit check.
Who Can't Get Your Credit Report?
Other than the groups above, no one can do a credit check without your written authorization. This would include your neighbors, friends, and family. As you can see, the curious have no right to pry into your financial information, at least, that retained by credit bureaus.
Also very important is your ability to opt out of having your name on any list compiled by a credit reporting agency that can be resold and used for pre-approved credit offers. To opt out, you may go online with any of these agencies and receive instructions on how to proceed. Federal law, especially, protects your rights, and protects your privacy.
