FTC Proposes Changes to Update and Improve Credit Reporting Notices

The Federal Trade Commission is proposing revisions to the notices that consumer reporting agencies provide to consumers, and to users and furnishers of credit report information under the Fair Credit Reporting Act (FCRA). The FCRA requires the FTC to publish model notices for several forms that must be provided by consumer reporting agencies. The proposed […]

FTC Amends Free Credit Reports Rule To Help Consumers Steer Clear of Free Offers that Cost Money

Starting April 2, advertising for “free credit reports” will require new disclosures to help consumers avoid confusing “free” offers – which often require consumers to spend money on credit monitoring or other products or services – with the no-strings-attached credit reports available at AnnualCreditReport.com, or 877-322-8228. The Federal Trade Commission’s Free Credit Reports Rule will […]

Agencies Issue Frequently Asked Questions on Identity Theft Rules

Six federal agencies issued a set of frequently asked questions (FAQs) today to help financial institutions, creditors, users of consumer reports, and issuers of credit cards and debit cards comply with federal regulations on identity theft and discrepancies in changes of address. The “Red Flags and Address Discrepancy Rules,” which implement sections of the Fair […]

FTC Announces Publication of Second Federal Register Notice and Comment Period on Survey of Information Sharing Practices with Affiliates

Section 214(e) of the Fair and Accurate Credit Transaction Act requires the Federal Trade Commission, the federal banking agencies, and the National Credit Union Administration to “jointly conduct regular studies of the consumer information sharing practices by financial institutions and other persons that are creditors or users of consumer reports with their affiliates.” The Federal […]