FACT ACT
Handling Consumer Credit Data
The Fair and Accurate Credit Transactions Act (FACT Act) amended the existing regulations governing how consumer credit data must be handled. First Advantage CREDCO credit reports are fully compliant with the FACT Act.
Product Highlights
- Fully compliant with the FACT Act
- Historical credit data retrieval for 25 months
- FCRA-certified, industry-trained service and support specialists
The amendments were designed to make improvements in three major areas:
Access
The laws under the FACT Act are designed to help consumers get easier access to their credit files with the national credit bureaus.
Protection
Many of the provisions are geared toward providing more comprehensive protection against identity theft and fraud.
Accuracy
Because the quality of a consumer’s credit can largely affect their ability to purchase a car, or to get other types of financing, the FACT Act also aims at improving the accuracy of credit report information.