Under the ____, credit reporting services must allow consumers to see their credit reports annually for free.
A) Free Trade Act
B) Fair and Accurate Credit Transactions Act
C) Fair and Open Credit Act
D) Fair Credit Reporting Act
E) True and Fair Credit Transactions Act

Question

Quizplus · Accepted Answer

The correct Act mentioned in the statement is the Fair and Accurate Credit Transactions Act (FACTA). Under FACTA, consumers have the right to obtain a free copy of their credit report annually from each of the three major credit reporting agencies - Equifax, Experian, and TransUnion. The other options mentioned are not relevant to the given statement.

Under the ____, Credit Reporting Services Must Allow Consumers to See