On December 4, 2003, President George W. Bush signed into law as an amendment to the Fair Credit Reporting Act; the Fair and Accurate Credit Transactions Act (FACTA). This law is specifically designed to prevent fraud and identity theft which is the fastest growing financial crime today. The law sets new guidelines on how merchants print receipts, on how lending institutions process and protect your personal and financial information. It provides means and remedies for fraud and identity theft … [Read more...]
Disputing a Credit Report
FACT: Credit reporting is a voluntary and for-profit enterprise. FACT: The US government does not endorse, or promote the credit reporting industry. FACT: Credit reporting companies (also known as credit bureaus) are not part of the federal government. If the credit reporting agencies, (most notably Equifax, Experian, and TransUnion) are no more part of the federal government than say FedEx or Wal-Mart; why are we so intimidated by them? The main reason is because they wield so much power and … [Read more...]
