Which act establishes procedures for consumer-reporting agencies to ensure the confidentiality and accuracy of records?

The Fair Credit Reporting Act (FCRA) is the correct answer because this federal law was enacted to promote the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. It establishes guidelines that these agencies must follow to protect consumers' personal information, ensuring that records remain confidential and are accurate. The FCRA also grants consumers rights regarding their information, including the ability to obtain a copy of their credit report and dispute inaccuracies.

The other options do not accurately describe the main focus of the FCRA. For instance, while the Fair Records Act might imply a focus on record keeping, it lacks the specific emphasis on consumer reporting as defined by the FCRA. The Consumer Privacy Protection Act, though relevant to consumer privacy, is not specifically tied to the reporting of credit information and consumer reports. The Accurate Reporting Act similarly does not exist as a recognized legal framework tied to consumer reporting and lacks the comprehensive guidelines provided by the FCRA. Thus, the Fair Credit Reporting Act is the most relevant legislation that addresses the confidentiality and accuracy of records maintained by consumer-reporting agencies.