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Fair and Accurate Credit Transactions Act (FACT Act)
A federal law that aims to protect consumers from identity theft and fraud by providing greater access to and control over their credit information
More Details
The Fair and Accurate Credit Transactions Act (FACT Act) is a federal law that was enacted in 2003 to help prevent identity theft and improve the accuracy of consumer credit reports. It amended the Fair Credit Reporting Act (FCRA), which is a federal law that regulates the collection, use, and dissemination of consumer credit information.
Example
You request a free credit report each year. This ability is one of many benefits guaranteed by the FACT Act that help you to ensure your credit file is accurate.
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