FACT Act

On July 1, 2009 OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) published final rules to implement the accuracy and integrity and direct dispute provisions in section 312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). The new rules are effective on July 1, 2010 and apply to those that furnish information relating to consumers to credit reporting agencies for inclusion in a consumer credit report.

The Federal Reserve Board and the Federal Trade Commission published final rules to implement the risk-based pricing provisions contained in section 311 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act), which amends the Fair Credit Reporting Act (FCRA).