Laws & Notices
Following a public comment period, the Federal Trade Commission has
issued final summaries of identity theft and general consumer rights and
revised furnisher and user notices under the Fair Credit Reporting Act
(FCRA) and the Fair and Accurate Credit Transactions Act of 2003 (FACTA).
Consumer reporting companies are required to notify consumers of their
rights under FACTA and steps they can take to protect themselves against
identity theft and difficulties resulting from identity theft.
The identity theft rights summary includes the major new identity theft
rights granted to consumers by FACTA, including the right to place fraud
alerts on their credit reports, to block businesses and credit bureaus from
reporting information in their credit files that is a result of identity
theft, and to obtain from businesses information about accounts or
transactions in their name that result from identity theft. The identity
theft rights summary will be provided by consumer reporting companies to
consumers who contact the agencies because they believe they are victims of
fraud or identity theft.
The general consumer rights summary includes, among other things, consumers'
right to see their credit files and know when they have been used against
them, to correct inaccuracies, and to opt-out of unsolicited offers. The
summary also notes that, in addition to identity theft victims, active duty
military personnel have additional rights under the FCRA and FACTA. This
general summary of rights updates the current summary, which credit
reporting companies provide to consumers with their credit reports. The
furnisher and user notices explain to businesses their duties under the
FCRA.
The FTC received 50 comments from individuals, businesses, and associations.
In response to these comments, the Commission has made some changes to the
proposed summaries and notices it issued in July 2004, including: (1) the
addition of a Spanish-language statement at the top of the summary of rights
indicating where Spanish-speaking consumers may go to obtain more
information in Spanish; (2) clarification that a consumer must contact the
nationwide consumer reporting companies to request that a fraud alert be
placed on his or her credit file, and that the initial alert remains in a
consumer's file for at least 90 days; and (3) clarification that a consumer
may request that a consumer reporting company block any information, not
just account information, in the consumer's file if the information is the
result of identity theft.
The FTC vote to approve the final rule and the publication of the Federal
Register notice was 5-0.
Summaries of Rights and Notices of Duties Under the FCRA & FACT Act:
Publication of Final Guidance on Model Disclosures
http://www.ftc.gov/os/2004/11/041119facta.pdf
Appendix E: Summary of Consumer Identity Theft Rights: Remedying the Effects
of Identity Theft
http://www.ftc.gov/os/2004/11/041119factaappe.pdf
Appendix F: Summary of Consumer Rights Under the FCRA
http://www.ftc.gov/os/2004/11/041119factaappf.pdf
Appendix G: Notice to Furnishers of Information: Obligations of Furnishers
Under the FCRA
http://www.ftc.gov/os/2004/11/041119factaappg.pdf
Appendix H: Notice to Users of Consumer Reports: Obligations of Users Under
the FCRA
http://www.ftc.gov/os/2004/11/041119factaapph.pdf
FCRA
http://www.ftc.gov/os/statutes/031224fcra.pdf
GLBA
http://www.ftc.gov/privacy/glbact/glboutline.pdf
DPPA
http://www.nydmv.state.ny.us/forms/mv15dppa.pdf
ADA
http://www.sba.gov/ada/smbusgd.pdf
Information subject to change without notice.
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