The Fair Credit Reporting Act primarily governs what aspect of credit reporting?

The Fair Credit Reporting Act (FCRA) is mainly focused on regulating when consumer credit reports can be accessed and under what circumstances this information can be used. This includes stipulations that credit reporting agencies must follow regarding the permissible purposes for obtaining these reports, such as for credit transactions, employment, or insurance purposes. By having these rules in place, the FCRA seeks to protect consumers' privacy and ensure that their credit information is only accessed when necessary and justified.

While the other aspects mentioned in the options, like the retention period of credit reports, disputing inaccuracies, and identity theft protection, are related to credit reporting, they are not the primary focus of the FCRA. Instead, they address different components of consumer rights and protections associated with credit reporting. For instance, disputing inaccuracies is a procedural right under the FCRA, but the main premise of the act relates to the control over who can access credit reports and for what legitimate reasons.