Fair and Accurate Credit Transactions Act (FACTA)
The Fair and Accurate Credit Transactions Act (FACTA) was signed into in 2003 and was a revision to the Fair Credit Reporting Act (FCRA). It allows consumers to get one free Credit Report from each of the three national bureaus once a year. This is possible through AnnualCreditReport.com. Buyer beware: other websites offer a “free credit report” for signing up with their services. They however use your free report from the government to provide that information to you.
The free Credit Report that many people get through freecreditreport.com, scored123.com or MyFico.com does not count toward your free report from the government. (www.annualcreditreport.com) You can still get both.
For more information, visit the Federal Trade Commission’s webpage about the FCRA. (http://www.ftc.gov/os/statutes/fcrajump.shtm)