Which act protects consumers from inaccurate or obsolete personal or financial information?

The Fair Credit Reporting Act (FCRA) serves to protect consumers by ensuring the accuracy and privacy of information in credit reporting. It establishes guidelines for consumer reporting agencies and outlines consumers' rights regarding the information contained in their credit reports. The act enables individuals to request their credit reports, dispute inaccuracies, and obtain corrections to any obsolete or incorrect information.

This is crucial because inaccurate or outdated information can affect consumers' financial opportunities, such as loan approvals and interest rates. Through the FCRA, consumers can maintain a degree of control over their financial records and enhance their chances of obtaining fair and reasonable terms in credit transactions.

The other options address different aspects of consumer protection and financial regulations but do not specifically focus on the accuracy of personal or financial information in the same way that the Fair Credit Reporting Act does.