Federal laws that affect references are the privacy act of 1974 the fair credit reporting act of 1970 the family education rights and privacy act of 1974 ( and Buckley amendment of 1974) and the freedom of information act of 1966. These laws give individuals in general and students ( the Buckley amendment ) the right to know the nature and substance of information in their credit files and files with government agencies and ( under the privacy act) to review records pertaining to them from any private business that contracts with a federal agency