The Fair Credit Reporting Act is federal law that governs what and how credit reporting agencies and the companies that report to the credit reporting agencies report things on your credit report. The bottom line is that both the credit reporting agencies and the companies that report things to the them must report accurate information and if they don’t then they can be held liable. Under the FCRA you are entitled to a minimum of $100 and up to $1,000 per violation plus any actual damages and attorney’s fees and court costs.