Which of the following is a principal purpose of the Fair Credit Reporting Act?

The Fair Credit Reporting Act (FCRA) primarily aims to regulate the consumer reporting industry to ensure fair and accurate reporting of consumer credit information. It establishes guidelines for the collection, dissemination, and use of consumer credit information, providing consumers with rights related to their credit reports. This regulation ensures that consumer reporting agencies operate fairly and transparently, helping to safeguard consumers from misinformation and identity theft while also promoting accuracy in credit reporting.

The other options do not accurately reflect the purpose of the FCRA. Providing financial advice, eliminating all consumer reporting agencies, or standardizing credit scores does not align with the Act's focus on regulating the industry and protecting consumer rights in relation to credit reporting. Therefore, the option that highlights regulation of the consumer reporting industry is indeed the principal purpose of the Fair Credit Reporting Act.