Fair Credit Reporting Act Amendments of 2001

Fair Credit Reporting Act Amendments of 2001 - Amends the Fair Credit Reporting Act (FCRA) to mandate that, upon consumer request, a consumer reporting agency: (1) furnish an annual credit report free of charge; and (2) disclose credit risk scores or other predictors contained in the consumer's file, including the factors and relative weights taken into account, and the extent to which such factors raise or lower the score or predictor. (Currently such scores are exempted from disclosure.)

Prohibits the inclusion of certain small debts in a consumer report under specified circumstances.

Directs the Board of Governors of the Federal Reserve System and the Federal Trade Commission to: (1) monitor and review the extent to which consumer reporting agencies and purveyors of information to such agencies comply with FCRA requirements for the prompt investigation of matters in dispute and the prompt correction of inaccurate or incomplete information, or information that cannot be verified; and (2) present a progress report to Congress.