Fair and Accurate Credit Transaction Act of 2003

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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.
References in periodicals archive ?
The rule is a section of the Fair and Accurate Credit Transaction Act of 2003, a federal law that requires the establishment of guidelines for financial institutions and creditors regarding identity theft.
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.
December 2006 marked the three-year anniversary of the passage of the Fair and Accurate Credit Transaction Act, which significantly amended the Fair Credit Reporting Act.
68,690] the disposal rule under the Fair and Accurate Credit Transaction Act.
* Updates on important legislative initiatives including the amendment to the Fair and Accurate Credit Transaction Act requiring the development of a Financial Literacy Commission.