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Fair and Accurate Credit Transaction Act of 2003
(redirected from Fair and Accurate Credit Transaction Act)

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Fair and Accurate Credit Transaction Act of 2003
Legislation in the United States requiring the three major credit reporting agencies to disclose an individual's credit reports to that individual once per year for free. One may request a free report through a website or telephone number managed by the three agencies, Experian, Equifax, and TransUnion, in cooperation with the Federal Trade Commission. The Act contains provisions making identity theft more difficult. See also: Fair Credit Reporting Act.


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The package also explains the relationships among the Fair and Accurate Credit Transaction Act of 2003, new regulations regarding red flags and the steps credit unions must take to be in compliance.
FACTA and Your Free Credit Reports In 2003, the Fair and Accurate Credit Transaction Act (FACTA) was passed (FACTA is an amendment to the Fair Credit Reporting Act).
Content covers "all current, hot-button issues and developments facing the industry today," CCH said, including the Emergency Economic Stabilization Act, Troubled Asset Relief Program, Bank Secrecy and USA Patriot Acts, Fair and Accurate Credit Transaction Act, subprime mortgage and securitization issues, and money laundering and financial fraud.
 
 
 
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