Fair Credit Reporting Amendments of 1990

Fair Credit Reporting Amendments of 1990 - Amends the Fair Credit Reporting Act to require that the file of any consumer at a consumer reporting agency (CRA) include specified information on each inquiry about such file.

Prohibits a CRA from making a report of inquiries which were not specifically authorized by the consumer.

Amends provisions setting forth the permissible purposes of consumer reports to specify that the "legitimate business need" purpose applies only in connection with a transaction specifically authorized by (currently, involving) the consumer.

Prohibits a CRA from providing any information in a consumer's file unless the inquirer certifies that the information will not be used to solicit the consumer.

Requires disclosures by a CRA to a consumer to be in an understandable form. Requires disclosure, on request, of all information (currently, the nature and substance of all information) in the consumer's file. Specifies the information which must be disclosed to the consumer about inquirers and applies that requirement to non-employment reports made in the last year (currently, the last six months).

Requires that reinvestigation of disputed information be conducted within 30 days (currently, a reasonable time). Sets forth: (1) reinvestigation procedures and requires a report to the consumer after completion; and (2) procedures for notifying inaccurate information recipients. Requires coordination of correction efforts with suppliers of information, including reinvestigation by the suppliers.

Requires disclosure of certain rights and associated information to a consumer who disputes information.

Requires a CRA, upon request, to make certain disclosures to the consumer at least once a year without charge.

Replaces provisions specifying requirements imposed on users of consumer reports with provisions requiring report users who take adverse action with regard to a consumer, based in whole or in part on information in the report, to notify the consumer. Specifies the form of the notice.

Prohibits any person from furnishing any information to any CRA which the person has reasonable cause to believe is incomplete or inaccurate. Adds references to persons who furnish information to CRAs to provisions imposing civil liability for willful or negligent noncompliance.