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

  • ENR (Automated Enrollment Entry)

    ENR entries are initiated by an receiving depository financial institution (RDFI), at the request of a receiver, to enroll the receiver in direct deposit or direct payment...

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  • Issuer

    An issuer is the organization that issues a credit or debit card.

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