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Fair And Accurate Credit Transactions Act
Also known as: FACTA
Definition: A federal law which amended the federal Fair Credit Reporting Act in several different ways. The law provides, in addition to other things, additional protections for consumers as it relates to prevention and remediation of identity theft/credit fraud and the accuracy of credit reports. This amendment includes your right to a free copy of your credit report from each of the three major credit bureaus every year. This free copy of one’s credit report must be acquired through the centralized source which was established under FACTA.
Sources: CACG [?]
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