Which act requires that derogatory credit information be reported for 7 years other than bankruptcy?

The Fair Credit Reporting Act (FCRA) is the legislation that mandates how long derogatory credit information can remain in a consumer's credit report. Specifically, it requires that most negative information be retained for seven years, with the exception of bankruptcies, which can stay on a report for up to ten years. This regulation is designed to ensure that consumers have a clear understanding of their credit history and the factors that can influence their creditworthiness. By having this time limitation, the FCRA aims to balance the need for creditors to have access to relevant credit information while also giving consumers the opportunity to overcome past financial difficulties over time.

The other acts referenced in the choices do not specifically address the retention period of derogatory credit information. The Consumer Financial Protection Act focuses on consumer protection in financial services, the Equal Credit Opportunity Act prevents discrimination in credit transactions, and the Fair Housing Act prohibits discrimination in housing-related transactions. None of these directly relate to the regulations around credit reporting and the duration of derogatory marks.