Fair and Accurate Credit Transactions Act (FACTA)

Definition

A Federal law passed in 2003 granting consumers free access to a copy of their credit report from each of the 3 major credit bureaus (Experian, TransUnion, and Equifax) once every 12 months. This act gives individuals easier access to discover and correct errors or identity theft in their credit history that might negatively affect their credit score.
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Fair Access to Insurance Requirements (FAIR) Plan Fair and Accurate Credit Transactions Act of 2003