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CreditReports
New Rule to Shed Light on Free Credit Report System
By Broderick Perkins - AOL News(March 16) -- It's not just that those pesky "free" credit report Web sites can snooker you into buying credit services. The federal government's own official, authorized Web site, where consumers are really supposed to get a free credit report -- no questions asked -- is also a minefield of credit service come-ons. Effective April 2, that's changing -- or at least that's the plan. In the latest adjustment to the Fair And Accurate Credit Transactions (FACT) Act (a major 2003 amendment to the Fair Credit Reporting Act -- FCRA), any company advertising "free" credit reports will be required ...
FTC Cracks Down on Free Credit Reports That Aren't Free
By David Sessions - Politics DailyThe Federal Trade Commission announced Tuesday new disclosure rules for Web sites that advertise free credit reports but then quietly bill customers for "credit monitoring services." The new rule, crafted to enforce a law Congress passed in 2009, requires sites like FreeCreditReport.com to display a large yellow banner on their home pages directing consumers to a site where they can obtain an annual free credit report -- with no strings attached. Though the trade commission has often regulated deceptive advertising on television and product packaging, the credit report disclosure rule marks ...
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