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The Fair Credit Reporting Act (FCRA) is the federal law that governs consumer investigative reports. This legislation was enacted to promote accuracy, fairness, and privacy of information in the files of consumer reporting agencies. It ensures that consumers have access to their credit information and the right to dispute inaccuracies. Under the FCRA, consumers must be notified if information from their credit report is used against them, and they are entitled to know the source of this information.

This law is essential for protecting consumer rights in the realm of credit reporting, as it establishes guidelines that agencies must follow when they create and distribute consumer reports. It also requires that consumers be informed about their rights in relation to their credit information, which is crucial for maintaining transparency and trust in financial transactions.

While other laws mentioned may relate to consumer interests, they do not specifically govern investigative reports like the FCRA does. For instance, the Truth in Lending Act is focused on ensuring that consumers receive clear and concise information about the costs of credit. The Consumer Protection Act addresses a broader range of consumer rights and protections. The Federal Trade Commission Act is about preventing unfair business practices and promoting competition but does not specifically deal with consumer investigative reports.