Federal act passed by Congress that serves as an addendum to the Fair Credit Reporting Act and provides consumers with the ability to obtain one free credit report from all three credit agencies (Experian, Trans Union, and Equifax) yearly. Ordinarily a consumer would have to pay a small fee to obtain their credit report. This act only provides for the credit report and not additional information such as a credit score or ranking. The goal of the addendum was to provide consumers with an easy way to monitor their credit in order to avoid identity theft and maintain their credit standing.

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