Under the Fair and Accurate Credit Transactions Act (“FACTA”), consumers are entitled to one free credit report per year from each of the three national consumer credit reporting companies. Unless you live under a rock (or without television), you have undoubtedly seen the ubiquitous commercials run by freecreditreport.com that portray an unfortunate group of musicians who lament their fate –stolen identities that could have been avoided if only they received a free credit report– through catchy songs.
Tag Archives: FACTA
FACTA Red Flag Rules Run Into More Hurdles
Posted in Fair and Accurate Credit Transactions ActThe Red Flags Rules hit two more hurdles recently. On October 29, 2009 the U.S. District Court for the District of Columbia granted summary judgment to the American Bar Association to set aside an extended enforcement policy of the controversial Red Flags Rule in the Fair and Accurate Credit Transactions Act (“FACTA”) as it would have pertained to working lawyers. (American Bar Association v. Federal Trade Commission, case number 09-cv-1636).