FACT Act

The Fair And Accurate Credit Transaction Act Of 2003

This act was signed into law by George W. Bush former president of the United States of America December 04, 2003. The Act amends the Fair Credit Reporting Act, provides consumers with protections regarding credit reports and other centralized databases of consumer information. The changes improve ways that consumers can increase the accuracy of credit reports. It also helps prevent identity theft, allows consumers to receive a free credit report every year, and restricts the marketing of financial products resulting from the sharing of sensitive information.