FACTA (Fair and Accurate Credit Transactions Act)

Passed in 2003, the Fair and Accurate Credit Transactions Act enables consumers to request a free credit report from the top three credit reporting companies. These free credit reports can only occur once every twelve months.

Related Terms

  • ACH Credit

    An ACH credit occurs when the receiver’s account is credited.

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  • FTC (Federal Trade Commission)

    The Federal Trade Commission is an independent agency that advocates for consumer protection and the prevention anti-competitive business practices.

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